With PM’s budgeting capabilities, companies gather budget numbers via the web or integrated spreadsheets rather than by assembling and consolidating individual spreadsheets. Doing so speeds the collection process and eliminates the need to re-key data and fix broken spreadsheet links, activities that often result in errors and version-control issues. Once approved, budget figures — and even notes explaining the rationale behind them — are saved to the secure PM database, meaning that a single set of data is now used across the organization. PM’s built-in financial features — such as automatic roll-ups and calculations, support for multiple currencies, and an understanding of how to mathematically treat debits and credits — further help ensure data integrity and save time. When business conditions require a budget modification, the organization need only modify the figure once; the change is automatically available throughout the PM database, keeping the plan in line with changing business needs. Because PM stores information in the central database, system users can compare budgets to actual results and forecasts side by side and on demand, without the need to open or navigate multiple applications.
PM’s budgeting capabilities:
- Reduce the time needed to collect data and prepare budgets.
- Eliminate version-control issues.
- Automate roll-ups, calculations, and currency conversions to save time and reduce errors.
- Monitor budget submissions and actual results for increased accountability.
- Plan salaries and assets at the detail level for more accurate budgets.
- Set up automatic alerts to notify you when something unexpected — good or bad — is happening, so you can take action.
- Adjust budgets and communicate changes when business conditions change, maintaining the plan’s relevancy and the organization’s commitment to it.
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