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 company.
CFOs are required to not only be knowledgeable in the field of accounting, there is also a certain level of expectation that they be well versed in technology. They are somehow expected to be updated with the latest and most disruptive technology that will help them weed out ineffective and cost-heavy practices to help drive more profit for the business.
The Helping Hand
There are budgeting and forecasting software options in the market that give budgeting and financial planning that needed support in order to keep up with the pace of the company.
These solutions use innovations and best practices in the field of business intelligence and corporate performance management to ensure that budgeting and forecasting process can be streamlined and made more efficient.
It is budgeting and forecasting solutions that offer a helping hand to finance departments in order to support the business in obtaining professional and economical excellence through improved and standardized data collection, consistent business rules application, and enhanced transparency and accountability in the entire organization.
What Budgeting and Forecasting Software offers
A budgeting and forecasting software refers to a business solution in line with the process of budgeting and forecasting with the end goal of drastically reducing the budgeting cycle time whilst making sure that real-time and actionable business insights are easily accessed.
A good budgeting and forecasting solution runs the extent of other related purposes like financial consolidation, dashboarding, reporting and analysis, and metrics management.
A good budgeting and forecasting software solutions should be able to help companies search that sweet spot in their business of identifying risks before they happen and opportunities before they unfold. This is the open secret in staying ahead of the competition.
Having a robust budgeting and forecasting software provides the business with a clear visibility of the cash flow, income streams, and expenditures among others so that it’s easy to evaluate the business’ past, present, and future.
Typically, financial solution providers install separate modules or products for various methods leading to complicated consolidation and integration processes. However, this shouldn´t have to be the case.
Performance Canvas Financials
The Inventiveness in the architecture of budgeting and forecasting solutions like Performance Canvas Financials help clients adapt with metadata variations and cope with corporate standards.
Performance Canvas Financials (pcFinancials) is a recommended solution for businesses with moderately complex to highly complex business issues.
It not only removes the challenges associated with doing budgeting and forecasting in spreadsheets, it incorporates best practices within the budgeting, forecasting, reporting, and consolidation arena to help ensure the entire process is sensible and effective.
PcFinancials also supports integration with other systems within the organization to make sure other technological investments are maximized.
To validate and integrate the data collected from several sources, there are evaluations in place within pcFinancials to guarantee flawless transfer or flow of data.
With pcFinancials, the organization’s focus on unifying all budget-associated activities will help accomplish trustworthy and comprehensive financial reports, accurate forecasts, and relevant budgets.
If your organization is constantly pressured to answer difficult questions that require piercing through several departments and combing through several business rules, pcFinancials might be able to help. To learn more about this budgeting and forecasting solution, visit www.performancecanvas.com or email [email protected].
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