Budgeting Planning & Forecasting - Powered by LedgerBase

Introducing LedgerBase Budgeting solution that help organisations transform existing complex & tedious budgeting planning processes into more proper, structural, manageable processes with flexible adaptation on changes and scalable for your business planning.

Common Financial Budgeting Issues

The common practice that organisation engaging will be the spreadsheet processing for their financial budgeting and planning purposes. Here are the common issues found on this practices:

Time Consuming

Majority user preparing budget in spreadsheet, collecting and distributing via email, updating and consolidating in spreadsheet manually.

Integration

Non of the budgeting system can be fit or easily integrated with existing legacy system such as finance/accounting, payroll, purchasing & etc, making it difficult to compare against actual data.

Accuracy

Narrow user involvement in budgeting planning does not really reflect the accuracy of budget figures. It shall not only involves primary team such as Finance and Sales & Marketing, it should involves every teams in the organisation but this often not happening as broad user involvement require complex gathering, compiling & consolidating process. They just can't afford to maintain complex budgeting process.

Collection

Collection point cannot be unified especially for organisation having broad operation location or mobile operation with various business segment running.

Reporting

Compiling and consolidating for reporting is a hefty jobs and time consuming, keeping the latest version of reporting might rely on user capability in report management and it always tend to lost track in certain extend.

Updating & Revision

Changes or revision frequently happen in budgeting planning as it is a subjective prediction that rely on many aspects. Making simple amendment on certain aspect might require lengthy effort to get everything right especially for user practicing manual budgeting system.

How LedgerBase Financial Budgeting Model Tackle Common Budgeting Issues

LedgerBase Budgeting as a whole is based on Microsoft Office Excel and Web interface what makes it easy to use. Supporting business, financial, and operational problems solving, LedgerBase Budgeting turns business machine much more predictable. Below some highlighted budgeting features:

Transforming Spreadsheet into Manageable Source

Spreadsheet is an irresistible tools that majority users adopting nowadays, without scarifying this tools, we literally remain user current operational way but enhanced with security and controlled with validation and transform spreadsheet data into powerful data source. By converting your existing budget spreadsheet form into an online/offline form, it greatly shorten the learning curve, making it easier for user to adapt and able to enhance with controls & validations.

Web Interface

Web interface platform breaking the boundary of collection issues as everyone can contribute to budgeting planning at anywhere and anytime. 

Unified Spreadsheet Forms

Putting budget spreadsheet forms into our Web Interface literally cut off the multi version form issues. User only need to download the latest updated form from the Web. No more compiling & consolidating issues as every forms of data collected have been properly filtered, validated and aggregated accordingly.

Legacy Systems Integration

Actual data is the key component in planning for budget, we can support your customisation of data extraction rules (e.g. SQL Statements) to integrate data from your legacy systems. This can provide a single point of truth of information retrieval when you are using different computing devices. For example, pulling your finance and payroll data from your Accounting and HR system.

Complex Budget Process

It not only support you to implement flexible online and offline entry forms, but also deal with different scenarios of business rules including data mapping, validation, calculation, posting, version control, log record and notification. Apart from the centralised computing model, we can organise your management of distributed computing model to control cost and associated risks.

Process Automation

Process automation minimising data input to maximising relevant information disclosure and actionable alert. For example, regional country might upload data in foreign currency but group budgeting report present in local currency, without the need for user to convert the currency, the predefined automated process will do the job.

Broad Involvement

With the ability of handle complex budget/business process with predefined automation, user will likely extend the involvement to more relevant personnel contributing to the budget planning, without worries of incapability in handling complex budget process. Getting every relevant personnel involvement means more accuracy in budgeting.

Formula Reporting

Integrated seamlessly with Excel Add-in, retrieve report directly from Excel using formula links, allowing your report always in up to date status. Whenever there is new input by user, figures updated automatically in your spreadsheet report.

Responsive Change Management

An effective budget planning require constant changing to be in line with business changing environment. Conventional or legacy budget planning system always struggling in this aspect, leaving planning outdated and inaccurate over the period of time. LedgerBase Budgeting was designed to adapt changes quickly and easily to help you planning in more efficient and effective way.

Quick Summary of How LedgerBase Budgeting Model Assists in Your Planning

  • Actual vs Budget

  • Auto Currency Conversion

  • Budget vs Forecast

  • Auto Computation in Multiple Layers

  • Budget Planning Cycle by Monthly, Quarterly / Yearly

  • Data Filter, Mapping & Validation

  • Budget & Consolidations across Multiple Entities

  • Maintain Budget Versioning

  • Budget & Consolidations across Multiple Currencies

  • User Level Security

  • By Regional Segment

  • What-If Analysis

  • By Departmental Segment

  • Continuous Monitoring

  • By Business Segment

  • Process Flow Automation

  • By Operational Segment

Case Study for Financial Budgeting Planning & Forecasting

Facts at a glance

  • Global Employee 150+

  • Global Revenue US$40m

  • Headquarter Singapore

  • Regional Office across Asia Pacific

  • Architectural Products & Services for Building Industry

Key Issues

  • Budgeting accuracy & efficiency

  • Budgeting revision & version issues

  • Budget data maintained in spreadsheet (excel)

  • Inconsistent budget entry in spreadsheet

  • Updating issues in spreadsheet

  • No systematic budget operation

  • No Audit Trail

Need and Challenges

  • Only Small group of personnel contributing to budget data

  • Afford to have yearly budgeting exercise only

  • Budget data maintained in spreadsheet (excel)

  • Tends to be errors when linking with too many spreadsheet

  • Different spreadsheet version by different user complicating budget consolidation process

  • Too many formula linkage between spreadsheet resulted longer time to update budget data

  • Lost track of budget data and lack of control

  • Difficulty to develop budgeting SOP when dealing with spreadsheet operation

Benefits

  • Every employee is contributing to budget data

  • Able to produce budget quarterly and budget versioning can be kept

  • Errors on budget data minimised with proper budget operation

  • Budget forms being unified and centralised

  • Budget report simplified & straight forward as direct retrieved from system

  • Every budget updated can be tracked & monitored with certain control deployed

  • Streamlining budgeting operation and able to established with SOP

  • Able to deploy certain automation on computation as well as validation on budget data/entry

  • Higher accuracy & efficiency in budget data & budgeting management

  • Budget compilation process reduced from 1 to 2 days to 1 to 2 hours.