Business Budget vs. Actual Data Analysis
A well-defined business budget shows the returns you expect to see from the investments you make in people, capital, technology and other expenses. That’s why comparing your budget to actual results is so critical. When you know how you are performing against your goals, you can make quick decisions to course correct. The Maestro Suite lets you monitor and analyze business budget vs. actuals all year long, using transaction-level detail from your GL, so you can drill down to understand which parts of your business need help.
Staying in Sync with Your Actuals
All organizations have an accounting or ERP application that tracks actual expenses, but it’s rarely connected to budgeting or forecasting tools. Thus, actual data needs to be manually referenced and compared to the budget and forecasts. It’s time consuming and prone to human error. The Maestro Suite operates as an extension of your general ledger and automatically generates accurate forward-looking Balance Sheet and Cash Flow statements that are synchronized to actual results and the underlying budget. Drilling down into the data lets you understand risks, variances and opportunities, and initiates faster changes in response to actual and predicted results.
Maestro Suite Benefits
- Quickly generate variance reports of budget, actual and reforecasted numbers.
- Create accurate forward-looking Balance Sheet and Cash Flow Statements that are automatically synchronized with GL data.
- Drill down from summary to detail level to understand why variances occurred.
- Compare multiple forecasts based on actuals.
- Facilitate collaboration across all budget owners to allow fast responses to actual results, while maintaining a centralized view of the overall plan.
- Requires no labor-intensive formulas, macros or links.