Standard financial reports provide useful data for making key management decisions, but the reports will only take you so far. To help with decision-making, you need the ability to track and report on subsets of data and drill down on the metrics that matter most. Companies looking to get complete insight into their operations and …
No organization can get away with skipping the budgeting and planning phase. This is a critical period for financial departments because it allows teams to review short- and long-term objectives and allocate the funds that will lead to optimal outcomes. If only it were as simple as copying last year’s budget and pasting it into …
How to Accelerate the Budgeting Cycle and Achieve Agility Read More »
Budgeting is full of unpredictability. No one can see the future, which is why financial teams look to past performance data when setting spending limits. This process can be effective under the right circumstances, but it doesn’t address a glaring issue – past data doesn’t account for new challenges. Growing companies will undoubtedly face new …
How to Use “What If” Models for Budgeting and Forecasting Read More »
A lot of work goes into budgeting and forecasting, which may be why many businesses choose to only tackle the job once a year. However, many financial experts agree that budgets are rarely perfect and often need to be adjusted much more than annually. The reality is that increasing budgeting frequency (read: more than once per year) …
Planning a new budget for 2021 may seem daunting, and it’s easy to see why. After COVID-19 turned business operations on their head, last year’s budget was likely tossed out the window. That’s exactly what makes it all the more important to start planning your 2021 budget now with an anything-can-happen mentality. Implementing the right …
Your 2021 Budget: Five Best Practice Steps You Can Take Now Read More »
There’s a population of Sage X3 customers who are charged with aggregating their parent organization’s data from one or more manufacturing or distribution subsidiary entities. Consolidating financial information from multiple subsidiaries, with more than one currency, can be challenging if you don’t have one of today’s financial consolidation tools to upgrade Sage X3 and any …
Manufacturing and distribution financial consolidations using Sage X3 Read More »
Two of the most critical actions any company can take are to streamline processes and to use Key Performance Indicators (KPIs) to measure success. By streamlining, companies need fewer resources and can reallocate freed resources to save time and become more efficient. KPIs are essential for determining whether goals are met and profits are made. …
