Can You Easily Perform Multiple Budget Iterations?
Learn to take advantage of your FP&A software’s capabilities to generate multiple budget iterations. I am surprised to hear that many people who use the world’s most popular business software application, MS-Excel, are not aware of the existence of a useful function called “Solver”, found in the Analysis group in the Data tab after the […]
An Open Door – Where Security Falls Short with Excel Budgets
Using Excel for financial functions is on the decline, per the 2018 Benchmarking the Accounting and Finance Function report conducted by the Financial Executives Research Foundation. Many companies moving off Excel cite the need for better collaborative tools and the need to be able to handle larger and larger data sets. Another significant area where […]
IT Budgeting and Asset Depreciation for IT Professionals
When it comes to IT Budgeting and the current assets in your organization (i.e. computers, software etc.), it’s usually a challenge for IT Professionals to work alongside the accounting department. In many cases IT Professionals don’t have experience or expertise in IT Asset Depreciation. Yes! Asset Depreciation, you might be scratching your head wondering why […]
Take Advantage of your Planning & Budgeting Software’s General Ledger
How to leverage the existence of a General Ledger in your planning & budgeting software In a recent post I brought up the need for a GL (General Ledger), integrated into the planning and budgeting software and resembling an actual accounting software GL Why Have a General Ledger in a Budgeting Software?. We saw that […]
Why Have a General Ledger in a Budgeting Software?
A seemingly strange concept turns out to be a brilliant idea At first this looks rather strange. A general ledger with both automated and manual journal entries capabilities is common place in all accounting software applications or in the ERP solution’s financial section. But why do they have that in a planning and budgeting software? […]
Use of CPM Analytical Tools in the Budget Process
What really matters in the budget preparation and analysis process and why it should be implemented I was just reading an article on TechTarget.com by Barry Wilderman of Wilderman Associates, titled: The Benefits of using CPM (Corporate Performance Management) analytical tools for budgeting. Here the author walks the readers through the benefits of using CPM data and specific […]
The Benefits of an All-Encompassing Budget
Why using inadequate tools and approximating the balance of forecasted Balance Sheet accounts is a bad approach for budgeting I recently had a discussion with a colleague who is a partner in a local management consulting firm about organizations’ attitude toward the planning and budgeting process and the benefits they reap from these activities. I […]
Advantages of Cloud-Based Business Budgeting Software
Using spreadsheets and hard drive-based business budgeting software can keep a large volume of business data organized can be useful, but the advantages of a cloud-based solution are difficult to deny. From maintaining a single streamlined edition of the master file to permitting unlimited users to alter the file and even limiting most individuals from […]
How to Easily Manage Software License Renewals
How you can have Planning Maestro manage this task with ease and accuracy All organizations rely on software products in their daily operations across all departments and business segments. Enterprise software ranges from ERP, accounting and finance applications to engineering, CAD, CAM, marketing and sales automation and also includes the software I am using to […]
Financial Planning and Analysis – Art or Science?
How technology reduces the “art” element in successful FP&A activities This morning I received an e-mail from Proformative.com inviting me to a webinar titled “The Art (and some Science) of Great FP&A”. I am glad to see a resurgence of such an important facet in any company’s finance department and the increasingly stronger endorsement of this function […]
