improve your budgeting process while avoiding excel pitfalls · budgeting, planning and...
TRANSCRIPT
Improve Your Budgeting Process while Avoiding Excel Pitfalls
Budgeting Agenda
• Vocabulary Lesson
• Common Myths of Budgeting
• Defining the Problem
• Current Challenges
• Available Solutions
• Client Spotlight – Alex from UniRush
• Best Practices
• Mobile and Alerts
Introduction of Presenters
Columbus, OH – May 5th
Terry Ginley, CPA
Director of Analytics and Cloud Services
Socius View of Analytics and CPM
• Analytics & CPM…… more than reporting
• Forward looking vs. looking in the rear view mirror
• “Learning Organization” mindset
• Actionable data – proactive not reactive thinking
• Rich and rapid self-service
• Mobile – right time, right place
The Car Wash
Vocabulary
Term DefinitionPlanning The process of setting goals
Budgeting Laying out a plan of where the entity wants to go
Forecasting Indicates where the entity is actually heading
CPM Corporate Performance Management
BPM Business Performance Management
FP&A Financial Planning and Analysis
ERP Enterprise Resource Planning
ETL Extract, Transform, LoadBP&F Budgeting, Planning and Forecasting
Common Myths of Budgeting
• People love the budgeting process
• Excel will support a workbook with 155 Tabs
• Users Never Insert Rows / Columns
• Lengthy email threads are an effective workflow process
• Legacy Budgeting applications are simple to use
Define the Problem
• Consolidating Multiple Excel workbooks
• Who / What / Why was a change made?
• Stand Alone Excel wont get you to the details
• Separation of Church and State
• Ownership of Business Units
• Real time analysis while building the budget
• The Numbers don’t speak for themselves
Moving From Tactical to Strategic
People
Process
Data
Inefficient
Not Aligned
Silos of Data
Efficient
Aligned
Holistic Data
AccountantTransaction Management
Data DrivenPerformanceManagement & Analysis
Change AgentStrategic, Data-Driven Decision Making
Tactical Strategic
Available Solutions for Dynamics GP
• Budgeting in Dynamics GP
• Microsoft Forecaster for Dynamics GP
• Adaptive Insights
• BI360
• deFacto Global
Solution – GP
Cost None – included with Dynamics GP
Location Inside GP
Users Creators: Financial teamConsumers: Financial and Executive teams
• Multiple budgets can be stored• Easy to import and export• Accessible with standard reporting tools
• Management Reporter• Analysis Cubes for Excel
• Small learning curve
Solution – GP
Solution – GP
•Budget exists in GP… Now What?• Easily import and export to Excel• Quick access with GP Inquiry Windows• Management Reporter
• Budget name needs to be selected on columns• Analysis Cubes
• 1 budget and 1 forecast allowed at a time, per year
Solution – Microsoft Forecaster for Dynamics GP
Cost Included with GP Extended Pack, can be purchased as well……
Location Stand Alone application – prebuilt interface to GP
Users Creators: Financial teamConsumers: Financial and Executive teams
• An Application specifically designed for budgeting• Collaboration• Version Control• Audit trail of changes
• Revenue and Expense Modeling• Human Resource Planning• Multi-Currency Capability• Reporting with conditional reporting and drill back• Short Implementation Cycle
Microsoft Forecaster for Dynamics GP
Late Breaking News ….. Forecaster
• Current users can continue to utilize Forecaster
• With versions of Dynamics GP less than GP 2016
• Forecaster can be purchased through 5-1-2017
• Forecaster will be supported with Current GP versions lifecycles
• If you own Forecaster today your enhancement will be reduced after 5/1/2017 if purchased via Business Ready Licensing (BRL)
Solution – Adaptive Insights
• 100% Cloud• Purpose Built for Budgeting and Planning• Streamlined end to end Corporate Performance Management
• Financial reporting, Budgets, Forecasting, Consolidations, Multi Currency• One Version of the Truth
• Integration with multiple source systems• Alignment of finance, executive teams, sales, operations, marketing, etc.
• Data driven decision making culture organization wide• Make scenario modeling and what-if analysis really easy• Increase collaboration with Integrated Dashboards
Solution – Adaptive Insights
Client Highlight
UniRush, LLCAlex Holtel, Financial Analyst
Solution – BI360 from Solver
• Complete Suite• Reporting, Budgeting, and Dashboard modules along with a pre-configured Data Warehouse.• BI360’s modern technology allows for dynamic rows, columns and cell control.
• Live Reporting directly from your ERP database • Live from General Ledger and Sub-Ledger. This enables drilling into transactional level detail (AP, AR,
etc.) right in the report. • Ad-hoc reporting; On-Demand and Auto-Scheduled report distribution
• Excel and Web-Based Reporting, Budgeting and Forecasting• Secure, streamlined, collaboration, workflow, audit trail; modeling and what-if analysis
• Fully integrated Dashboards• Web-based for anytime, anywhere access built with drag and drop design for business users and run
real-time on the ERP or on the BI360 data warehouse with drill-down• Pre-configured Data Warehouse
• Combine multiple data sources into one place, for complete Enterprise level reporting. • Multi-company, multi-currency consolidations, eliminations• Set up in days to dramatically reduce time/cost/risk to implement
Solution – deFacto
• Budgeting, Forecasting, Consolidation, Analysis, Reporting and Predictive Analytics in a Single, Unified Product
• Data entry, reporting and analysis all in Excel• Partnership with Microsoft to Co-develop Advanced Cortana Analytics-
based Predictive Forecasting Applications for EPG Customers• Pre-Built Connectors for Popular ERP and CRM Systems Including All
Dynamics Offerings• Built-in Data Warehouse Uses SQLS’s Relational and Cube Technology
for Maximum Performance
John DeHaven, CPA
CPM > Stand Alone Excel – Demo!
•Hierarchies
•Work Flows
•Reforecasting
•Spread Methods
•Comments / Annotations
•Capital Expenditures
•Drill down to detail
•HR/ Revenue Modeling
•Audit Trails
•Security
2016 Resolutions
Don’t forget the Budget
• FORECAST all year!
• Re-evaluate the numbers during the year
You can Change the Budget
• Budget factors change during the year
• Better AGILITY to plan for the “what-ifs”
Work Smarter, Not Harder.
• SELF-SERVICE Reporting
• Give the people what they want
1 2 3
Unlimited versions
Easily import actuals for variance and rolling forecasts
Roll forwards
KPIs
Headcount 64%Of annual targets are obsolete in
4-6 months
Forecasting All Year
Mobile Access and Alerts
Questions?
FutureReal Time
Decision Making
CPM Solution
ERP
Business Intelligence