In this digital globalized era, maintaining and improving bottom-line is a challenging task for organizations especially from manufacturing sector. Good financial budgeting and forecasting practice play the pivotal role in achieving that. Organizations today can’t rely on outdated and error prone excel based system and very much needed dynamic system to quickly respond to the changes occurred in market.
Companies need to decode the data to understand what their data tells them and react accordingly. This can be achieved through shrewd planning, budgeting, and forecasting system. This advance but easy to use technology saves time and yields more accurate results to keep pace with the speed of business.
Let’s understand this advanced financial budgeting and forecasting solution more deeply.
Any company from Pharmaceutical or FMCG industry which operates in multiple countries need to do its financial planning, budgeting and forecasting to maintain its profitability country wise and overall. Most of the companies use excel spreadsheets for that but not able to get desired result. Excel is definitely a cost effective, easy to use and easily available solution but has its own limitations like error prone, decentralized, complex and time consuming.
What we did, we developed financial budgeting and forecasting application with Excel interface which you can access with the help of simple user id and password. There you can yearly budget month wise for individual countries and then forecast quarterly which will start from quarter 2 because in quarter 1 it’s assumed that your budget for this first three months would be your forecast. Then post actuals after every month sales. In this way you can get your budget v/s actual and this data will help you to identify demand supply gaps and responsible factors for that. This also gives you the freedom to fetch as you wish reports like budget v/s actual country or product wise, cost of goods sold unit wise, distribution cost, logistic cost and many more. This deep insights will help you to take right strategic decisions to create leaner, meaner and nimble supply chain.
Our financial budgeting and forecasting application comes with many add-ons like:
- Use specific access control
- Works on latest gadgets with Microsoft Excel 2007 & Above
- Data security and integrity
- Complete audit & log
- Dynamic as you wish reports
Our financial budgeting and forecasting application is fit for organizations of all sizes, offers on-premises environments as well as cloud based solution.