Collect and Collate: What Organisations Want from Financial Budget SoftwareIt’s a well-known fact that most organisations use spreadsheets to prepare budgets, in spite of the problems that arise when using them. For example, to collect a budget you’ll want to give users their current actual and forecast results, which means customising each sheet. Then when you’ve sent it to them, you have no idea if they have opened it, whether they have entered the data correctly, and if when they send it back whether they have made subsequent changes to their version. To report data submitted, these different sheets then need to be collated through the use of cell rules or macros, and if you change what’s being collected, such as requesting the next period forecast, then you have to make sure those changes don’t invalidate existing rules. You also have no control over whether users then enter data into the right version. All of this of course assumes that users haven’t changed the rules on their sheets or changed its layout such as entering an extra line, which can all cause problems when you try to combine them. There are alternatives to this ‘spreadsheet hell!’
Financial budget software solutions have been around for some time but they are typically expensive to buy and difficult to implement. Vendors try to justify this by explaining that what an organisation gets is far more than what a spreadsheet offers, but do users really want these extra capabilities? And more important, are they prepared to pay for them in terms of price and complexity? Organisations shouldn’t have to buy what they don’t want, when all they need is to eliminate the issues surrounding the collection and collating of data, and to pay a fair price for doing those tasks. Up until now that wasn’t an option, but fortunately the budgeting software market is changing and there are now a number of cloud based solutions that offer just those capabilities.
Financial Driver is such a system that is perfect for financial budgeting. It has a number of features that simplifies and speeds up the collection and consolidation of data, while allowing you to retain control and ensure integrity over what is being reported. You can find out more on what it offers here. But what makes Financial Driver truly different from most other solutions is: • Simplicity. In just a few hours organisations can set up an enterprise-wide budgeting or forecasting ‘collect and collate’ application that requires no training for end-users to use. • Zero IT costs. Because Financial Driver is a hosted solution, there is no software to load or hardware to maintain – anywhere. Administrators and end users only require internet access using a standard web browser – things they already have. • Low Cost. With Financial Driver there is no upfront fee – just a low monthly rental that is a fraction of the cost of other systems. If you are using spreadsheets for the collection and consolidation of data, then take a look at the financial budget software from Financial Driver and see how it can transform your processes at an affordable cost.