Financial Budgeting Software

What Constitutes the Best Financial Budgeting Software?

Financial budgeting software is a tool that is meant to support the finance department´s execution of the budget process. The goal is that a company´s corporate financial budgeting should effectively link strategy and its execution. These days many decision makers … Read More

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Financial Budgeting and Forecasting

Most Common Challenges & Solutions in Financial Budgeting and Forecasting

There are 7 well known challenges in financial budgeting and forecasting. While finance departments are fully aware of their own challenges, it is important to note these problems clearly so that decision makers drive the needed internal change and so … Read More

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Budgeting and Planning Solution

How to Determine if the Budgeting and Planning Solution is Right for Your Organization

If you are reading this article, it is probably because you hate your budgeting and planning process. Does it take too long to complete the entire budgeting cycle? Is it not helping you make sound business decisions? Is the data … Read More

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Budgeting and Planning

Top 7 Best Practices in Budgeting and Planning 2018

Automation and streamlining of budget processes are two very different things. Automation ensures tasks are accomplished faster whereas, streamlining ensures tasks are done smarter. Forward-thinking organizations understand that traditional budgeting and planning practices have no place in a data-driven and … Read More

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Budget

10 Important Points to Keep in Mind to Achieve an Optimal Budget

Mentioning the word budget always draws mixed emotions from different people. Budgets are most often associated with a tedious exercise that results in inaccurate estimates which almost always requires explanations. Well, this isn´t exactly wrong either. It is true that … Read More

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Budgeting and Forecasting Software

Budgeting and Forecasting Software for Organizations with Moderately Complex to Highly Complex Needs

The Challenge CFOs persistently strive to gain perceptibility into data to make accurate forecasts and sensible year-round budgets. It has never been more important to gain access to real-time, insightful, and actionable information to help support the decision-making of a … Read More

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Budgeting

Top 5 Common Roadblocks to Accurate Budgeting

Budgeting and forecasting are two essential annual activities for any organization. Many FP&A teams do not enjoy it but many also understand it is a necessary evil that they must put up with. Year after year, the fp&a challenges surface … Read More

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Traditional Budgeting

Traditional Budgeting and Why it is Time to Abandon Ship

In this age of automation, traditional budgeting is becoming obsolete.  Traditional budgeting practice gives a wrong sense of security and it indeed sucks the fun, energy, and time out of the front liners and decision makers in the company. Today, … Read More

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ERP Financial Systems

Budgeting and Reporting using ERP Financial Systems

Enterprise Resource Planning systems or ERP systems have been around since the 1960s. They are systems used to gather, store, and analyze data arising from several activities within the organization. One of the core modules of an ERP system is … Read More

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Zero-based Budgeting

Why Zero-based Budgeting is Not Always the Right Approach

Zero based budgeting is a method of budgeting which begins every period on a clean slate thus, “zero base.” This type of budgeting technique means that each function within the organization is analyzed in order to determine to its needs … Read More

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Budgeting and Financial Management

Best-in-Class Budgeting and Financial Management Practices

The market volatility and growing business problems complexity have dramatically changed the roles and expectations of key decision makers to the finance department. There has been significant time and energy allotted to ensuring that budgeting and financial management techniques used … Read More

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Financial Control

5 Critical Questions to Answer when Using Budgets for Financial Control

To many companies, a budget is often associated with long hours of work that yields spreadsheets of inaccuracies that constantly requires explanations to the users. Sadly, this is a picture of daily reality for many finance personnel. A budget is … Read More

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Predictive Analytics

Predictive Analytics in the World of Financial Budgeting

Many companies now require predictive analytics when looking to purchase a budgeting solution. While there is logic to this because predictive analytics comes with a lot of benefits, there is somehow a misconception that predictive analytics works like magic where … Read More

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Cloud Based Budgeting and Forecasting

Why Cloud Based Budgeting and Forecasting Is The Way Forward

In this day and age, every CEO and CFO wants to do more with less. More reports generated but fewer staffing resources involved; more robust protection for their data but limited IT bandwidth; and better budgeting and forecasting process for … Read More

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budgeting and forecasting process automation

The Essence of Planning, Budgeting and Forecasting Process Automation

Creating sophisticated plans, budgets, and forecasts is essential for CFOs and other decision makers in the company as it enables them to make wiser strategic and operational decisions. Ensuring such tasks are accurately and effectively performed is crucial. Plans, budgets, … Read More

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Cloud-based Budgeting

Criteria for a Good Cloud-based Budgeting, Planning, and Reporting

If there is anything we learned from 2016, it is that software spending is down. Software providers´ revenue for on premise software licenses and maintenance was significantly down last year. Interestingly enough, the spending for SaaS software products grew by … Read More

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CFOs

2017 is the Year for CFOs to Plan Smarter, Not Harder

Financial planning and analysis teams today put in longer hours during planning period – not by choice though. This mostly springs from the fact that they have to deal with huge number of spreadsheets that is marred with formula errors, … Read More

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ineffective budgets

How to Fix Ineffective Budgets

Every company prepares a budget and every single one of them struggle with their budgets because of ineffective budgets practices. This is the very reason why many critics of budgeting label it as a futile exercise designed to waste the … Read More

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Budgeting and Planning Software

5 Factors to Consider Before Buying a Budgeting and Planning Software

5 Factors You Need to Consider before Buying Budgeting and Planning Software All modern and adaptive Financial Controllers and Finance Managers understand the importance of investing in a sophisticated tool. A software that can reduce the finance team´s time expenditure … Read More

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financial budgeting and planning best practices

Top 5 Best Practices in Financial Budgeting and Planning

Financial Budgeting and Planning Best Practices Financial budgeting and planning allows companies to draft a financial roadmap for their operations. This process for many companies involves a significant number of Excel spreadsheets and several cups of coffee to keep them … Read More

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Budget and Planning Software

The Advantages of Budget and Planning Software over Manual Spreading

The Advantages of Budget and Planning Software over Manual Spreading If you still depend on manual excel spreadsheets for your annual budgeting and planning, you’re pretty much behind, in the game. Getting the right business budget software will not only … Read More

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BI Solution

TOP 10 Most Important Features of Budgeting, Forecasting and BI Solution

Automation is probably one of the main reasons why several industries such as the manufacturing industry for example is thriving. Automation in different aspects of the industry allows several companies to minimize costs and maximize profit. However, across several industries … Read More

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activity-based costing

Is Activity-based Costing the Key to Profitability?

The increased business pressure to become customer-oriented and shareholder value oriented has led to the increased use of activity-based costing in order to understand the product, customer, and profitability better. This trend has also been felt in the early 90´s … Read More

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BUDGET MANAGEMENT: Achieve Your Business Goals Part Three

In Part One of this ebook series, we have identified that continuous budgeting is better than budget based targets. In Part Two of the series, we identified the importance of ERP Systems and how to meet revenue and target budgets. … Read More

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Traditional Budgeting

The Greatest Barrier To Change: Traditional Budgeting

Budgeting is the mantle on which a company stands. It is a control instrument and an instrument to measure a company´s success against. Sadly, an average company spends at the very least 4 months and expending 20-30% of senior executives´ … Read More

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Budgeting and Planning

TOP 5 Most Useful Features for Budgeting and Planning

If you ask a room full of finance persons if it is time to drop Excel for budgeting and planning, you will probably get a resounding positive response due to their personal experience or shall I say struggles with budgeting … Read More

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spreadsheets

Are spreadsheets worth letting go?

There is no shortage of articles online that concludes using spreadsheets for financial budgeting, forecasting, planning, reporting, and consolidating processes is such a bad idea. However, even with the flood of these articles online, we know for a fact that … Read More

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Beyond Budgeting Approach

The Top 4 Benefits of Beyond Budgeting Approach

Two of the most common budgeting practice – Activity Based Budgeting and Beyond Budgeting Approach shares a common thread that the inability to adequately plan in uncertain environments makes the budget useless. While Activity-based planning suggests an improved albeit more … Read More

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Budgeting and Reporting

The 2 problems of budgeting and reporting that just won´t go away

The setting of budget for the new fiscal year and the closing of the books are two of the most backbreaking time of the year for finance personnel. A recent study from Ventana research says that the Budgeting, Planning, and … Read More

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Activity-based Budgeting

Top 4 benefits of Activity-based Budgeting

Activity based budgeting, in contrast to traditional budgeting, creates an operationally feasible budget prior to generating a financial budget. It generates budget from activity-based models of companies. This approach of budgeting focuses on the planning role of budgets in the … Read More

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