Slow throughput time due to the intricacy of the budget.
Regardless of the repeated summons to move from Excel-based Corporate Budgeting, today about 70% to 80% of corporations (from large corporations to small companies) continue to make use of Excel for their budgeting. So what makes these budget managers stand behind Excel and stay loyal to utilizing it as their principal budgeting tool?
The present technique of Excel budgeting is not without constraints. However, the advantages for using Excel as a main corporate budgeting instrument overshadow its limitations.
Excel provides budget managers with a great deal of control on the structure of the template. Comment gérer son budget managers can alter the design of template once the business environment changes. With a BMP/BI system, budget managers have to give up the management to look for a template that meets their business needs.
Budget contributors are familiar with Excel spreadsheet that requires no or minimal training to finish the template. However, they are normally too involved in their operations to find time to find another program which is used just a few times a year.
Budget contributors and managers could add new worksheets to store their workings and provide an audit trail on the basis for their budgeting numbers.
The variety of individuals involved in the budgeting process is not confined by the number of licenses . Anyone who owns a copy of Microsoft Office may be included in the procedure.
Companies don’t have to continuous upgrade their applications so it will use the most recent operating system.
It is expensive to own a BMP/BI, which cost at least $50K (conservative estimate) and beyond, not to mention that IT support staffs are usually required in maintaining the system. Using Excel for corporate budgeting could relieve the business the problem of locating IT staff to maintain the BMP/BI platform in the middle of a worldwide IT staff shortage.
Limitations from the present method of Excel Budgeting
In the current moment, there isn’t any other alternative software that may match the benefits brought by excel in budgeting. Budget managers assume they must operate within the constraints of Excel if they want to keep on using it as their budgeting tool.
Now, we’ve developed a revolutionary technique of Excel-based Corporate Budgeting we promise that can wow budget managers and make them want to lay their hands on. We believe it’s a solution which each budget manager must understand, even those who are currently using BMP.
In this revolutionary solution, we retain all the advantages contained in the present method of Excel Budget. We just added additional benefits and also remove the constraints contained in the current method of budgeting.
Those who are working on the budgets don’t need to follow strictly to the layout by the funding managers. They can change the sequence of their budgeting lines according to their preference.
You can easily transfer the budgeted numbers from the template to a different worksheet and form a database by simply using formulation. The database may be utilized to create pivot table for analysis and reporting.
Analyze the funding numbers from different viewpoints. You’re able to examine them by goods, by channels, etc..
Prepare reports and charts by particular links which don’t have to worry which line the item is found. And even when the item changes columns or row, you will still get the ideal amounts for your report.
No reduction of information during the process of consolidation. The information from the lowest degree i.e. numbers submitted by the various business units are captured to the merged database. The consolidation will automatically upgrade the budget amounts from various business unitsand add new rows, delete older things and also change the numbers as the amounts in the template changes.
Consolidation can be as fast as a few seconds to a couple of minutes, depending on the amount of company units you need to consolidate.
Analysis may be done at the highest level with the lowest level of information. By way of example, you can assess staff cost by divisions or even on a country level. You may also prepare pie graphs to demonstrate the contribution in the different business units or countries.