Budgeting & MIS Reports Automation
Application Layer Over ERP to Track Actual Vs Budgeted Real Time Interactive MIS Dashboard
Take your budget process to a new level of speed, efficiency, and flexibility. Our Budgeting Automation Management Solution simplifies the process of building and updating the budget. It gives you the power to make budgeting an ongoing process to better inform critical business decisions—without straining your finance team.
Importance of Having a Robust & Automated Budget Solution
Real-Time Insight into Your Data
A robust budgeting solution can quickly & easily give the management insight into variances and provide a more routine process of reviewing discrepancies.
Flexible Forecasting
Forecasts that combine actuals, budgets, annualized values, inputted values, and/or percentages.
Data-Collection and Centralization
It enables the management to keep a close eye on Project Cost Management (PCM), productivity levels, and other key performance indicators.
One-Click Closures and Reports
One of the main benefits of using the automated features of project budgeting software is the ability to generate detailed reports with the click of a button.
Improved Transparency
Budget management software will help you deter and fight fraud involving inflated expenses.
Efficient Reporting
Reports provided by budget management software can give helpful insights that result in lower costs.
Fewer Costly Errors
Some Errors can cause entities to lose crores annually. An effective budget management software gets rid of the possibility of calculation errors.
To Limit Expenditures
Budgeting software can draw up records of previous transactions with a few clicks which can help you limit your spending.
Current Challenges and Requirements
Coordination & Collaboration
Creating a budget requires communication between departments, increasing complexity in larger organizations.
Complexity
Budgets can be complex and difficult to manage, especially if team members lack financial background or resources.
Time
Organizations start the budget process as late as possible to maximize the number of actual months available for budgeting. With automation, it can be an ongoing process.
Accuracy
Human intervention may result in errors in budget numbers due to consolidating Excel files, which can lead to errors.
SPC NXT's Workflow
Our solutions
Services
Trend Analysis
SPC Team will conduct a grouping level trend analysis of the previous five years’ profit & loss account data quarterly wise.
Strategic Planning
Our experts from the SPC team shall provide enhanced strategic planning services on budgeting allocation, revisions & decisions.
Documentation
SPC team shall provide documentation service from scratch for better control over budgeting activities.
Software Platform
Setting up an application using the current ERP database & creating a form-based Budgeted Automation Solution.
End to End budget vs actual tracking up-to-date budgeting cost, status, and allocation.
Budget approval mechanism streamlines with revision & validation
Alert and Triggers over Mail, for unfavorable variances reporting
Monitoring – Monthly/quarterly monitoring over budgeting controls shall be conducted by SPC Team.
BI Live Dashboard & Comprehensive Reporting on variance analysis
Various Budget Reports
- Budget vs actual analysis report
- Budgeting variance analysis report
- Budgeting forecasting report
- Profit & Loss monthly/quarterly variance report
- Consolidating Year-to-Date Profit & Loss Report
- Budget KPI Report
- Budget revision analysis report
- Miscellaneous exceptional report
Budgeting & MIS Reports Dashboards
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