Planning Budgeting & Forecasting
Planning, budgeting, business modelling and forecasting solutions work by allowing business users access to centrally managed and logically presented budgeting models in a tailored workflow environment.
This empowers managers to view and interrogate variance analyses, perform real-time, "what if" modelling, and monitor performance against target to improve the business.
Planning & Budgeting has traditionally been confined to the Profit and Loss statement but the current economic environment is even affecting those organisations who are cash-rich. This is driving the need for a higher degree of detail as well as long term Financial and Cashflow planning. Planning at this level requires budgeting, rolling forecasts and business model simulation at 3 levels; Balance Sheet, P&L and Cash Flow. Despite the ease of deployment and rich functionality available in spreadsheet models they cannot be expected to efficiently or effectively cope with this level of detail in a corporate environment. Not least of all from a compliance and governance perspective.
Interest in solutions to support financial planning, budgeting, and forecasting is currently high with a survey showing that 30% of organisations will invest in this software within the next 12 months.
Driver based planning, where key drivers are modelled and the financial results are derived- and initiative based planning, where the planning process is centred on key corporate initiatives, are complicated processes involving many people throughout the organisation. These approaches are used so that organisations can get a more accurate estimate of future performance and plan their activities accordingly but this can take up significant amounts of management time and resource. To make this a reality companies are using the lessons learned from spreadsheet based models and implementing centralised, coordinated, solutions to address this.
IT Performs has implemented budgeting and forecasting solutions for many organisations in the UK - The tool deployed is really a foundation, since successful projects require suitably qualified Performance Management or Finance Consultants working with your Finance team to configure and implement the best solution for your business. IT Performs has real world experience, across different industries, of all elements involved in the planning, budgeting and reporting cycle.
- Modelling of income statement, balance sheet and cash flows
- Working Capital Management
- Financial Business Modelling
- Financial Consolidation
- Inter-company eliminations and journaling
- Collaborative Process driven workflows
In addition to accountancy and software configuration skills we also provide the technical skills to transfer and upload budgets and forecasts into both your financial (ERP) applications as well as into specialist reporting environment such as data warehouses. ITP has experience of implementing a number of budgeting and planning applications. The software we deploy and support includes:
For more information call 0845 124 9495 or complete our short form below.
