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The Canberra-based consulting firm has acquired Infocube and plans to increase its operational footprint.
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Chartertech acquires management accounting firm Infocube
28 April 2022
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Financial and technology advisory consulting firm Chartertech has acquired Infocube, a Sydney-based IBM Planning Analytics firm specialising in business analytics and performance management.
Infocube uses AI software programs IBM TM1 and Cloud Pak for Data, designed to implement planning, budgeting and forecasting. The acquisition includes these platforms and will provide Chartertech with access to this global network.
“We are excited to have reached an agreement with Infocube that expands Chartertech’s NSW operational footprint and our TM1 capability, and enables the Infocube team deeper capacity and capability for projects through our platform,” said Chartertech’s co-founding director George Skillin.
“Over 20 years, John Vaughan and the Infocube team have cemented themselves as IBM TM1 specialists here in Australia and globally.
“This acquisition is a fantastic opportunity for us to combine to deliver better finance capability for our clients, especially in the defence and national security sector. We look forward to integrating John and his team into the Chartertech TM1 DevOps team.”
Established in 2017, Chartertech is a CA ANZ-registered firm providing financial advisory services and planning analytics, as well as business transformation solutions. The company also provides business intelligence services via TechnologyOne, Australia’s largest enterprise SaaS (software as a service) company.
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“We are excited to join the Chartertech family and broaden our TM1 and Cognos capability for current and future clients,” said Infocube founder and managing director, John Vaughan.
Infocube has operated for over 20 years and currently services clients across Australia and around the world, including Thales, Scott’s Refrigerated Logistics, and Port Authority of NSW.
The company also has its own planning analytics education platform, Exploring TM1, as well as an online community platform for members.
“We will continue servicing our clients as part of Chartertech, and running the Exploring TM1 and TM1 Explorers platforms, and in addition we will collaborate with Chartertech on larger projects. We’re looking forward to working with other Planning Analytics specialists to innovate and extend our TM1 service offering, and work with complementary Chartertech products and service lines,” Mr Vaughan said.
Launched in 1983, IBM Planning Analytics is one of the world’s largest business performance management software and is used for budgeting, planning and forecasting, and management reporting analysis. Both Chartertech and Infocube are IBM business partners and accounting firms.
Chartertech and Infocube are also in the process of finalising a contract with a major NSW government department to build a three-way corporate financial planning system. They will also be leveraging the skills of their CFO advisory team and Infocube to build cloud-based software for compliance reporting.
Chartertech co-founding director Michael McRoberts said the acquisition is “an exciting highlight in Chartertech’s growth journey”.
The company has plans to expand its presence in NSW with a new Sydney office and is considering expanding to Brisbane.
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