The Budgeting Module complements the corporate accounting processes and supports tracking of precise periodic budgeting plans, based on Balance Sheet and Income Statement.
The module supports efficient forecasting of organizational performance such as planning of loan disbursements, per loan officer, per branch office, per loan product, etc. and budgeting in periods (monthly, by-monthly, quarterly, semi-annually and yearly).
Budgets can be created by specifying revenues and expenses for the next period directly in the system or imported from prepared Excel files.
In the system, all of the revenues and expenses are specified on separate accounts which can be easily managed from user side. Every account has an option for additional specification of account dimensions according to which the budget is tracked in General Ledger. Dimensions can be used to track performance targets per Loan Officer, branch office or other planning indicator based on client needs.
Once defined, budget plans pass through an approval process, where the flow incorporates budget statuses, with an option to rollback budgets in previous status which is automatically tracked in budget history.
The module has an option for budget rebalance with which the initial planning and allocation of resources can be adjusted for the remaining period, with new values after which the system takes in consideration the new rebalanced targets.
All budget plans can be effectively analyzed in predefined, structured reports which compare the realization with planned results and in flexibly defined reports with the Dynamic Report Generator, based on client needs.
Better performance reviewImprove your performance across operational divisions and planning accuracy with streamlined tracking of financial figures in the system and better performance visibility in real time comparative reports.
Improved control over budgetingCentralize your budget information on one place and integrate it with the other financial data in General Ledger in order to make better business decisions and gather financial inputs in a timely manner.
Flexible Approval ProcessAdapt the budget approval workflow according to your existing business processes and be able to manage your budgets more flexibly.