This article will focus on how the right Corporate Performance Management (CPM) solution can elevate and strengthen budgeting and forecasting processes in the era of multiple cloud systems.
We have written about the challenges and opportunities of navigating the multi-cloud world that the business realm is definitely inhabiting, specifically how Corporate Performance Management (CPM) and Business Intelligence (BI) tools can serve as a comprehensive solution to processes like financial and operational reporting. When you start to count up all of your requisite enterprise software moving to or already in the cloud, it probably seems noteworthy, particularly in regard to the challenges of integrating and/or combining all of this disparate information. And then, there are your on-premise systems, which is where most accounting systems still reside. What about planning processes, like budgeting and forecasting, which require historical data from diverse sources? This article will zoom in on budgeting and forecasting as important BI and CPM processes – and how the right tool can solve your business problems related to multi-cloud management.
An ad that keeps popping up on Facebook for me involves a Google Chrome plug-in that pulls any available discount code when you are paying an online merchant. Sounds pretty smart to me. I am not sure of its efficacy or reach, but anyone that wants to score a bargain would likely agree that moving between different coupon web sites or email marketing offers to get to the maximum savings can be a shuffle. Does this plug-in deliver on the synergy it promises? I am not sure in this example, but in terms of budgeting and forecasting, there’s a more clear answer and roadmap forward for the customer.
Similar to the inconvenience that the Google Chrome plug-in promises to circumnavigate, in the business world, budget and forecast managers and contributors might bounce between cloud systems, like a cloud accounting system, ADP or Workday for Human Resources (HR) and payroll tasks, a support ticket management tool, Google Analytics to monitor web site visits, perhaps an event management tool, and so on. This can be a lot to logistically manage in order to pull all of your actuals you might need to include to adequately budget on operational and financial levels. You’re not only logging in and out of your applications, but you also have to go in different directions into unique web user interfaces. On top of that, there are plenty of organizations still depending on homegrown budgeting setups, so integrating the data to the planning tool is another hurdle. Sound like fun?
To continue learning about budgeting and forecasting in a multi-cloud world, click here.
About Solver
Solver is the leading provider of complete BI solutions for today’s mid-market enterprise and the company has been at the forefront of BI technology for over a decade. Solver’s BI360 solution is a powerful, Microsoft-based suite of modules for reporting, budgeting, dashboards, and data warehousing with extensive, pre-built integrations to Microsoft Dynamics AX, GP, NAV, SL. www.solverglobal.com
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