Few finance professionals would question the value of planning, budgeting and forecasting. Together, these processes provide a roadmap for a business and give its workforce clear directions on how to reach the intended destination.
Although the value can’t be questioned, the tools and approaches that many organisations use can be questionable. The typical planning, budgeting and forecasting processes leave finance team with very little time for analysis, strategy development and target setting. Much of the hassle associated with planning and budgeting can be laid squarely at the door of the humble spreadsheet. But working with a collection of disconnected spreadsheets, errors quickly creep in, through poor version control, data-entry mistakes and formula errors.
Today, for many midsized companies, just like large enterprises, cloud-based planning and budgeting tools are a vital enabler of growth, enabling them to stay agile and responsive to new business opportunities.
Download this whitepaper to explore modern planning and budgeting tools in a cloud-based ERP system.