The IBM Spectrum Protect (ISP) Operations Center can be installed at the time of the installation of the ISP Server as it's included in the installation package. It's not a bad offering, but could be a lot better, and IBM are spending quite a bit of time developing it. If you go on to YouTube, there's a lot of videos covering the Operations Center and what it is capable of. It comes with a couple of reports configured out of the box, but they're not exactly the most useful, but you can create your own reports if you're comfortable with SQL queries against the ISP (TSM) database.
There are some good alternatives for managing your ISP Servers, such as TSMManager. If reporting is of great importance, then have a look at Predatar.
Cheers.