A tailored budget and planning tool creates the right foundation for good and sound performance management solution.
Driver-based planning has become increasingly popular, as has the trend of rolling forecasts. The two factors put alot of pressure on traditional budgeting solutions using Excel templates with macros for instance. That way of working is just not efficient enough.
Utilizing a centrally stored budget model in a common database is the key. In the budget and planning tool there is only one version to select, everyone has the same view of the plan and the latest contributions to the plan are accessible. You can for example track your planned costs and income per department, see how much progress your colleagues have made with their budget processes and detect deviations fast with in-process reporting. Your sales persons can also calculate which customers are the highest priority and which products will be cash cows in the coming year. You open a central report and run through the situation with management regarding next year’s budget. Some doubts arise but using the analyse function gives you simple answers to questions. Furthermore, ahead of the meeting you will have prepared two different scenarios where competition has increased in certain areas.
Is this how you see budgeting and planning in the future? If the answer is yes, Advectas can help you make your vision a reality. Advectas has extensive, in-depth knowledge in this area and we have already come up against most pf the challenges and questions that may arise along the way in this type of project.
Over the years Advectas has built and implemented many budget and planning solutions for large companies and organizations. We are partners with the following vendors of budget and planning solutions: IBM, SAP and Infor.