As the CFO of your organization, your time is priceless and also your greatest constraint.
You need business tools that can help you and your budgeting & planning team to quickly evaluate current and past performance against a predefined set of performance data e.g., forecasts, uncover trends and to easily update the data as business conditions change.
Companies enjoying Best-in-Class performance share several common characteristics:
- Have a formal budget / planning process
- Take a combination of top-down (guidelines and standards) and bottom-up (individual knowledge and experience) approach to planning and budgeting
- Are more than twice as likely to support these processes through the use of an automated Budgeting and Planning Solution rather than relying primarily on spreadsheets and other primitive methodologies
Globally, CFOs and business managers use Excel spreadsheets to manage budget allocation, forecast income and expenditures, handle the annual planning cycle, and produce reports.
While Excel is a great personal productivity tool, it is grossly insufficient as a tool in an enterprise that involves collaborative, multi-department processes like planning, budgeting, forecasting, and reporting.
Do you face the following avoidable situations during the budgeting and planning cycle?
- Difficulty in sourcing data from multiple sources
- Ineffective control over data input – no formal mechanism to check and validate the data during the budget build-out
- Inability to automatically and dynamically consolidate data across multiple dimensions and sources
- Lack of visibility into consolidated data at both the detail and summary level at the same time
- Inability to measure actual spend against plan with ease
- Lack of what-if simulation
- Delays in reporting and analysis due to lack of central repository of data
- Extension of budget cycle due to non-adherence to deadlines
We assist the CFO and his budgeting and planning stakeholders
- Reduce the budgeting and planning cycle times by up to 90%
- Shorten and improve monthly close cycle
- Perform fast and accurate forecasting and what-if scenarios
- Save time and effort with built-in intelligence
- Avoid wasting time troubleshooting
We have expertise in the following application: