For Finance Divisions that have chosen to acquire a budget planning solution, the added value lies in the resolution of issues directly related to management control needs, i.e. increase the speed of processing and eradicate mundane low-level tasks.
The following benefits are usually generated by the implementation of a solution:
Improvement in data quality and the reliability of data reported
More secure processes with less time spent on forecasts and better management of schedules
Reduced costs in the Finance Division
These savings are real and suffice to justify the decision to acquire a budget planning and analysis solution for plans, budgets and forecasts.
Unfortunately, Finance Divisions are often put off by the price of traditional solutions, the need for experts to set up complex tools, the length of time required for the implementation phase and operational costs.
Besides concrete improvements to help Finance Divisions work more effectively, a modern budget planning solution offers extremely interesting perspectives for the entire company.
- Better integration of operational managers within the forecast process
- Greater consistency of the different forecast cycles, e.g. plans, budgets, forecasts
- Fewer reporting and forecast cycles in the company