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Finances

Budget process

Unify, coordinate the stages of the budget process in a single enterprise events space to get a clear picture of the current and future financial situation of the enterprise.

Question

The system allows to effectively solve problems

Unification of budgeting objects, forms of plans and budgets, procedures of calculation and receipt of planned indicators.

Construction of consolidated budgets for complex organizational and functional structures of enterprise or group management.

Automation of budget approval and storage procedures at all stages of coordination.

Tasks autogeneration for staff responsible for the budgeting process.

Graphic representation of the budget process implementation stages by functional areas, centers of financial responsibility, types of budgets, given analytical features.

Automation of obtaining factual data for budgets indicators from different sources: information base in the IT-Enterpise system, external data sources.

To manage the budget process in IT-Enterprise system, a project approach is applied, in which the budgeting process can be represented as a business project.

Administration center is a means of managing (controlling) business projects and forming project’s composition as a network graphic.

Administration center allows you to customize and calculate various business project templates for a given list of tasks. With this approach, the tasks can be budgets, reporting forms, plans, documents, etc.

Main management tasks:

  • description of the regulation of the budget process specifying the terms of stages
  • determining status of budget process
  • reflection of interconnection and interdependence of budgets

Automation of budgeting in IT-Enterprise system is a practical implementation in the information system of the concept and methodology of enterprise budget planning, namely, the process of creating and approving budgets with the subsequent control over their execution.

The actual objective of budgeting is the development of final budget forms that will provide a clear picture of the current and future financial situation at the enterprise in terms of assessing three key indicators: profits, cash balances and financial flows.

Income and expense budget (IEB) determines the economic efficiency of the enterprise. This budget forms the main financial result of the enterprise, that is, its profitability.

Cash flow budget (CFB) directly plans and records actual cash flows. This budget determines the company's “solvency” as the difference in cash receipts and payments during the planning period.

Balance sheet budget (BSB) is based on the analysis of assets and liabilities of the balance sheet. This budget provides the ability to build indicators (financial ratios) by which you can monitor the activities of the enterprise.

The module "Budgeting" helps to carry out effective planning and control the use of financial resources of the enterprise.

 

 

 

 

 

 

Advantages

Advantages
of our system

An open interface for setting up financial planning options; integration with accounting and contractual accounting modules

Generation and analysis of budgets in fixed currencies, equivalent, currency aggregates; recalculation of transactions according to the type of exchange rates specified by the user

Making plans, forecasts for the corporate structure based on the integration of data by the enterprises specified by the user

Generation and analysis of budgets for an arbitrary planning period broken down by intervals specified by the user

Analysis of budgets grouped by departments, initiators, arbitrarily customizable grouping rules

Operational control over execution of cash flow budgets, income and expenditures budgets

Authorization of user access to financial planning and budgeting items

A flexible configuration of account details, structure of indicators for plans and budgets forms

Restriction of access rights for users/groups of users to budget targets, plan forms

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