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Planning and Budgeting

Budgeting is a process of planning, performance accounting and controlling of financial, economic and industrial budget targets.

Main disadvantages of existing systems:

  • Partial automation, absence of company’s single budgeting system for all users;
  • Formalized budgeting model is missing;
  • Lack of user-friendly tools for input forms and online coordination;
  • Low productivity;
  • No authority system for data access control;
  • Lack of unified guides and classifiers;
  • No integration with company’s accounting systems for budget execution monitoring.

Sergey Ternovoy

Head of Budgeting practice

Automated Budgeting Systems increase efficiency of budgeting process in the company

  • Work of all budgeting process participants with a single solution for planning, consolidation and forming management reporting package on budget execution;
  • Budgetary model automation: top-down and bottom-up planning, implementing of algorithms for key indicators , distributions, scenario conditions, sequestering etc. calculations.
  • Business-process automation of budget input, agreement and confirmation according to budgeting rules of procedure;
  • Integration with accounting systems;
  • Automation of all budget and report forms for Budgeting process;
  • Multiversion and multicurrency planning ;
  • Users’ roles and authorities management, data audit;
  • Data blocking of confirmed budgets.