There are vast strategies to the budgeting process combined and hybrid approaches and after that there is the entire business of how you identify and come to certain calculations. Nonetheless, few appropriate questions are planning, forecasting and budgeting.
CFOs and executive teams are under great stress to make the most of profits, lower expenses, reduce danger, and enhance stakeholder self-confidence. To be efficient, you need trusted, up-to-date financial and operational data for planning objectives in addition to budgeting, forecasting, analysis, and legal and management reporting. You should integrate company and department planning, model cost situations, and carry out sensitivity analysis to produce spending plans based upon strategic plans and assumptions. Lastly, you need to turn on a completely documented audit trail and compliance with regulative directeds such as the Sarbanes-Oxley Act for combining and reporting company information, both on the surface and internally.
Yet gaining a real photo of your organization’s present health– not to mention future performance– can be practically difficult to attain. Critical functional and financial information is generally scattered across numerous applications and databases, caught as unstructured data in e-mail add-ons and spreadsheets. In many cases, financial data is hard to audit or undependable due to inefficient controls.
Business planning is usually a chaotic and inefficient process. Budgeting could rapidly weaken right into “spreadsheet hell” as procedures managers send unrealistic budgets, execs change the figures, and version control troubles cause complication. Combinations can be similarly troublesome when data is dispersed across various divisions, systems, and countries.
That is why leading companies count on enterprise performance management options like the SAP® BusinessObjects™ Planning and Consolidation application. SAP BPC comes in two versions, Microsoft and Netweaver, both versions are totally capable of supplying all the attributes required, nonetheless, for smaller sized companies, the Microsoft verison is preferred.
Here is a list of key benefits among the many guarantees of BPC.
- Improved performance
- Faster closes
- Enhanced administration and transparency
- Shorten days sales outstandings.
- Improved cash management.
- Better reporting
- Improved process integration between finance and treasury.
- Controlled and lower financial costs.
SAP BusinessObjects Characteristics
SAP BusinessObjects Planning and Consolidation is designed for all business individuals, offering individualized, role-based accessibility to functionality that is:
- User centric
- Process focussed
- Easy to tailor
The software offers an unparalleled benefits and opportunities to business individuals. Made for intuitive use, it provides acquainted Microsoft Office application user interfaces, intelligent activity panes, and self-service reporting.
Intelligent Action Panes
Business individuals view relevant, context sensitive selections based upon where they remain in an application and their security profile, allowing them to comprehend what to do, when, and why.
All individuals can access information and create reports on the go without help from IT department or specialists. Drag-and-drop interfaces enable them to create reports without extra effort. You can develop custom records or adapt the report design templates that come with the software to satisfy your needs.
Today’s finance department need to make sure that personnel and line-of-business supervisors adhere to regular procedures enterprise-wide. Without the ideal support for procedures such as annual or quarterly budgeting or closing the books, even small deviations can destroy key figures.
Native Interface to Microsoft Office Applications
Widely known Microsoft Office applications including Excel, as well as an intuitive, 100 % thin-client Web user interface, work as bative interfaces to the application.
Business individuals can access Microsoft Excel spreadsheets connected directly to live functional data; as data is updated, so is the spread sheet. Collaborating with tools they recognize well, business individuals require very little training and are productive from the first day.
SAP BusinessObjects Activities
With SAP BusinessObjects Planning and Consolidation, you can do activities such as planning, budgeting, forecasting, and reporting with built-in and user-friendly tools.
Planning and Budgeting
You can perform bottom-up and topdown financial and functional planning with a single application and user interface. You could work together on plans, handle stakeholder interactions, track variations and modifications, engage managers in the planning process, and allow clear possession and liability. Planning processes are sustained by business process streams and automation that aid ensure the right people participate at the right time. And you can incorporate disorganized data such as Microsoft Office records and e-mail to help tell the tale behind strategies.
The application assists a streamlined process for business-relevant spending plans that every person agrees on and that align with strategic plans. Extensively distributed stakeholders could collaborate on spreadsheets, both online and offline. Due to the fact that you begin with a single, constant version of operational and financial data– both real-time and historic– you can be confident in the integrity and reliability of your budgets.
To simplify forecasting, business process flows are firmly linked to the data and procedures sustaining planning and budgeting. What-if modeling and scenario-planning features allow assessment of budgeting reasonability in real time.
Reporting and Analysis
SAP BusinessObjects Planning and Consolidation supports financial and functional reporting and analysis. You can perform production and management reporting (consisting of exception reports), financial and operational analysis, and multidimensional analysis. The software also provides a “park-and-go” feature that records the data you are presently dealing with so you could function from another location offline when performing analysis.
Currently you can meet legal and management consolidation and reporting needs for a quick close process. Because a main data database contains up-to date actual from your functional systems, you have immediate accessibility to balanced graphs of accounts. This cuts weeks off your consolidation process and supports compliance with regulative mandates, such as the Sarbanes-Oxley Act. You get a single, centralized view of performance data and can immediately produce clear, transparent financial declarations and reports connecting to, as an example, revenue and losses, cash flows, and balance sheets.
The software helps you compare spending plan versus actual data, automatic the intercompany removal process, gain openness into company transactions in any way levels, take care of any kind of number of currencies, and do conversions, appropriations, and removals. Automated records support all reporting criteria, including GAAP and International Financial Reporting Standards (IFRS). Finally, the software improves compliance with regulative and financial specifications and produces a completely recorded audit path.