How Scaling Companies Handle Budgeting
This article will describe how companies with multiple business units process budgets and forecasts. Scaling organizations face a multitude of challenges. Organizations having to coordinate budgets and forecasts from different data sources between multiple business units experience even greater logistical obstacles. Reaching out for manually updated spreadsheets not only takes time but it also provides too many opportunities for miscommunication. What if your organization
How CPM Software Minimizes Operational Overhead for Non-Profits
This article will describe how reporting can save operational costs. Facing constraints is nothing new to non-profit organizations. From tight budgets to strategizing growth, managing the books can all too quickly become overwhelming. Intuitively, we know using robust tools will simplify many kinds of budgeting and reporting processes. Yet, outside of easing the day-to-day workload, what else can corporate performance management (CPM) software do? Namely, save money. Thi
Top Advantages of Using the Cloud
This article focuses on the benefits of using cloud-based software. Selecting the correct implementation strategy for a particular new application you are considering can be daunting. Many organizations today are adopting a “cloud first” strategy when deploying new applications, but what makes sense for your business? When thinking about the answer, hosts of other questions arise, “Does this approach work in all cases for all of my applications?” “What are the security and i
The Benefits of Budgeting with Budget Templates Part 2
This article focuses on part two of the importance of budget templates series. In part 1 of the series of The Benefits of Budgeting with Budget Templates, it is mentioned that budgeting is a topic that is not very popular in many companies, and the process may seem like a headache to many employees. Although a pain, it is necessary to communicate the importance of a budget to the entire company so the employees take ownership of it. In this article, we will continue the discu
The Benefits of Budgeting with Budget Templates Part 1
This article focuses on the importance of budgeting. Budgeting is a topic that is not very popular in many organizations, and it can be an extremely time-consuming project for many employees. This is why it is important to communicate the significance of a budget to all employees so they take pride and ownership of it. A tip is to not make complex templates as the goal is an estimate for the coming year. If employees can’t have small variances, then they will make decision
The Best Way to Improve Your Organization’s Internal Processes
This article focuses on the importance of process improvements and KPIs. How do you create a best-in-class process? And how do you implement it across the organization? These are some of the questions that may come to mind when thinking about process improvements. Our organization changed the monthly reporting as well as the monthly financial process, and the analysis process has become more effective. Prior to the changes, the financial statements were emailed out to the ex
Empowering Dynamics 365 Business Central with Advanced Budgeting, Reporting and Consolidations
This article explores the arrival of Dynamics 365 Business Central and how you can achieve advanced reporting and budgeting. With Microsoft’s highly anticipated release of Dynamics 365 Business Central (D365 BC), the company’s long awaited cloud ERP for the smaller and mid-sized businesses, executives evaluating the solution will, as expected, quickly zoom in on reporting, budgeting and business intelligence (BI) capabilities. But, let’s zoom out for a moment…after 25 years i
In the Future, Will Enterprise Software and Corporate Performance Management Only Be Available in th
This article explores the realities of cloud revolutionizing the technology and business worlds, especially for enterprise software, like cloud corporate performance management solutions. In the recent years, cloud services have rapidly gained in popularity. An increasing number of organizations now choose to implement their accounting system, customer relationship management (CRM), corporate performance management (CPM), web site analytics and more using vendors’ cloud offer
Reporting in the Future: Financial and Operational Reporting, Dashboards, and Analysis
This article will zoom in on what you need to know about reporting solutions and processes that will set you up for a successful future. Just like strategy and goals at most companies are often quite disconnected from the budgeting process, and the budgeting and forecasting processes themselves are still rather archaic and manual, so are many reporting processes. In other words, both areas are due for a significant overhaul for companies that want to enable world-class decisi
Planning in the Future: Budgeting, Forecasting, and Modeling
This article will explore and discuss what planning should and will look like in the future, zooming in on what you need to know about finding the right solution for your organization. Last week, I wrote generally about Corporate Performance Management (CPM) in the future. This week, let’s focus on planning or budgeting, forecasting, and modeling in streamlined, modern, collaborative ways that mirror the times – through technological solutions. In the coming years, CPM platfo
