Better Budget Cycles
Providing Better Experiences
Sound Familiar?
Most people budget in spreadsheets or a BI tool simply because doing it in the ERP is too difficult. Management needs Actual versus Budget reports so the actual figures are extracted out of the ERP system as well. Data in the spreadsheets/BI tool become out of date and out of sync with the transactions in the ERP.
Data management issues. Data integrity problems. Overly-complex process.
Sub-Optimal ERP.
Sub-Optimal ERP.
The key to an optimized budget process is fantastic work flow. Modeling tools may look great, but unless you can automate the work flow process, you can look forward to long budget cycles that are difficult to manage and prone to error. A nimble business needs a nimble budget process.
We do our budgeting online direct to the ERP system, free from Spreadsheet Madness based around a central work flow model. Here, the budget creators, budget holders and budget approvers, all work from a single source of truth and have constant visibility of the budget process.
Optimizing the Process
With Insight Budgeting™ you can:
- Perform unlimited, concurrent budget cycles. Budgeting and forecasting becomes a continuous process of revision rather than a process of upheaval.
- Review submissions instantly at an aggregate or detail level, providing managers with full drill down when actual expenses are of sudden interest.
- Set triggers and alerts through workflow control that keep budget holders on task.
- Approve or reject budgets and forecasts online.
- Eliminate the cost of circulating, tracking and managing spreadsheets that can cost the Finance team valuable time and energy.
- Store budgets directly within the ERP for immediate Actual versus Budget reporting.
- No loss of year on year comparisons in the midst of departmental changes and re-assignments.
