Uncertain times make it harder than ever to make decisions. The need for a robust budgeting and planning system has come into focus for many companies that have been hit hard in one way or another. Meticulously crafted budgets have to be thrown out the window when there’s a shock to they system. Sadly, many businesses still use spreadsheets to track and prepare for the future now find themselves scrapping those sheets entirely. And with good reason – if multiple decision trees are being debated, trying to juggle competing ideas in Excel with multiple collaborators is all but impossible. Thankfully for Sage Intacct customers, access to budgeting scenarios has never been better with Sage Intacct Budgeting & Planning.
Predicting the Future
You know how you are doing today, but how do you predict where you could be in the future? Sage Intacct Budgeting & Planning gives you the ability to run several what-if scenarios. Especially when big events, both internal and external, can change your forecasts dramatically, being able to look at different scenarios and imagine, “what if…” can help all organizations be ready when those events happen. Then, share those scenarios with others to leverage more experience and unlock the power of collaboration. Easily invite department heads to build or edit their budgets, present plan or budget options to management, find situations you may have missed, and dig into the details.
A few notable highlights about those scenarios:
- These are the types of what-if calculations that are extremely difficult to accomplish in Excel without a lot of integrity management
- We can make as many scenarios as needed
- Share and collaborate on those scenarios with other to leverage expertise
- Duplicate scenarios to have multiple fine-grained ideas
- Compare scenarios against the master budget to understand the consequences of decisions
- Merge the scenario with the master budget in just a click!
Pulling it All Together
Using key performance indicators to benchmark against, rolling forecasts can change your existing budget and planning process. Now you can easily monitor your progress to your KPI to help make sound financial decisions against the numbers. As a result, you get a boost to your bottom line. This is supported by recent research which shows that companies using rolling forecasts have greater budget accuracy with less time spent and increase their profitability by 10%.
Taking the right steps with budgeting scenarios today can help your business pull through and even improve against the odds. This means getting ahead in your budget and planning process, including close monitoring of your budget, performing scenario analysis, managing employee costs, and implementing rolling forecasts is key. In any event, it can help you get back to business as usual when the veil has lifted.
You can check out our demo video of Sage Intacct Budgeting & Planning or contact us for more information! Give us a call at 855.913.3228 or send us an email at email@example.com. You can even fill out our easy web form and someone will reach out to you within 1 business day! At Alta Vista Technology we take pride in being part of your solution.