Budget and Forecasting
Imagine easy-to-use spreadsheets combined with the performance of a relational database. Planning, budgeting, and forecasting have never been this simple or this complete. In what may be the best news for financial managers considering a new budgeting and planning solution, PrevisionEPM's application costs far less than the typical Windows forms application or Web-based tool, and can be implemented faster. Implementation typically takes a few weeks or months, instead of months and years.
The PrevisionEPM planning and budgeting module is extremely flexible. With PrevisionEPM, budgets conform to a company's business practices, rather than the business having to conform to the software application. With PrevisionEPM, budgets can be based not only on financial numbers and history, but also by non-financial drivers, including volumes, square footage, FTEs, and other key performance indicators. In fact, PrevisionEPM is not limited to budgeting financial data - the application is capable of creating budgets for any kind of data a business needs to track, even things like headcount, parts, or activities.
- A complete and flexible BI solution for all data elements required for a comprehensive plan including General Ledger, Payroll, and industry-specific data elements.
- PrevisionEPM enables the user to specify either bottom-up planning, top-down planning, or a hybrid version of the two methods.
- No pre-mapping required. Prevision uses an organization's native department, cost center, account, and subaccount structures (including multidimensional modeling) to define dimensional requirements
- Fully integrated software application that shaves days and weeks off the schedule with functionality for sophisticated allocation requirements, currency conversions, inter-company eliminations, and automated multi-company consolidations.
- The Prevision user-defined Process Control Module enables users to automate and manage the individual department budget submission and approval process
- Unlimited scenario and versioning capabilities for all global assumptions, labor rates, tables, allocations, and departmental budgets. Also track changing comments made by budget managers down to the individual account level.
- User-defined time series.Prevision user s can plan for monthly G/L, bi-weekly payroll, and daily volume activity all in the same department.
- Links to 100 percent of ALL general ledger, payroll, and third-party systems, including SAP, Lawson, Meditech, McKesson, ADP, and Sage. Allows budget managers to view years of history while reviewing next year's forecast without ever rekeying data.
- Sophisticated industry-specific revenue models for hospitals, financial services, banks and thrift institutions, public sector, governmental agencies, retail, research and development groups, physician groups, hospitality, and dozens of other business units.
- Unlimited budgeting and forecasting methodologies for labor (by job code, by employee, or a hybrid mix), benefits, supplies, utilities, professional services, travel, and other expenses for fixed, variable, step-variable, and zero-based budgeting requirements.
- The ability to upload any data element from PrevisionEPM to any other software application, with a single click of the mouse.