Ensuring data integrity
Two major issues associated with budgeting and forecasting are knowing whether the data held centrally is the same as that held locally by users; and that the consolidated result includes all departments. Both these issues greatly impact integrity and result in many unproductive hours in manually checking that everything is complete. And even then you can never be too sure. But with Financial Driver you can be sure. And what’s more, Financial Driver will do most of the work for you.
User and Version control
Financial Driver’s automated workflow ensures users know what they are to submit and when. As each request for information is made, Financial Driver will track users response and provide this back to administrators on a real-time basis. The front page of the application shows for each data requested, those users who have not yet started entering data; where data entry is in progress, submitted data that is waiting for approval, data that has been approved or rejected, and data that is overdue. Individual users are also given a screen that shows the status of the data requested from them and they will be given reminders as deadlines approach.
Financial Driver has an embedded approval process. As users submit data, those appointed to review submissions will be notified and given a link to the data concerned. Here they can review any comments entered by the user and either approve or reject the submission. Rejected submissions are returned to users for adjustments and re-submission, while those approved are considered to be complete.
Because of Financial Driver’s central database and workflow capability, administrators can be assured that everyone uses the same version; that users cannot change data once submitted; and that they will always know what data and departments are contained in a consolidated result.