Planning and Budgeting Tools

The planning process “planning, budgeting, forecasting and reporting” presents a formidable challenge to many companies, regardless of size or industry. It is a crucial component of performance management that contributes greatly to a company’s overall success or failure.Planning and Budgeting Tools help in every factor of industry.

Managers and executives today are faced with challenges in trying to accurately predict and communicate operational and financial plans to management for fast and effective decision-making. These challenges often include

  • Inability to collect, store, consolidate and report relevant information on a timely basis
  • Lack of a cohesive planning methodology and the processes and systems in place to execute that methodology effectively
  • The processes and systems in place to execute that methodology effectively
  • Lack of a good forecasting model
  • Lack of coordination and communication amongst the various participants in the planning process
  • An antiquated chart of accounts that does not accurately reflect the needs of both the planning and reporting groups
  • The need to know current financial status versus the budget
  • The need to know if current Gross Profit (GP) margins are within expectations
  • Inability to react quickly to changing market conditions

The answer to this is an effective planning and budgeting system, which you can centrally manage and collaborate on every step of the budgeting and planning process where Decision makers can create, own and communicate detailed plans, calculations and assumptions, across the enterprise, improving user participation and data integrity.

Data Semantics consultants have experience to take traditionally static budgeting process to a collaborative, real-time and continuous state. We can help you create an environment where multiple decision makers can engage in the planning process simultaneously with top down planning and bottom up budgeting and rolling forecasting. This enables changes and updates to be made in real time so you can see the results of what others are doing instantly with workflow, alerts and notification and than do “what-if” analysis.

In this way you can obtain real-time insight into operating performance and forecast using actual data to see the effect of proposed changes on the entire business model.

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