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Enterprise Budget is financial reporting and forecasting software from the Australian company TechnologyOne. The software as a service solution allows its users to gain insight into the overall performance of their organizations by providing them with real-time financial reporting and modeling capabilities. Enterprise Budget helps to lower operating costs by adding transparency to the budgeting and forecasting processes, and it is designed to be simple to use by individuals familiar with spreadsheet software like Microsoft Excel.
TechnologyOne’s organization-wide solution makes it possible to analyze revenues and expenditures for an entire organization or any of its departments or divisions. Enterprise Budget also helps to ensure regulatory compliance with robust version control and audit trail features. The cloud-based budget forecasting software can be accessed by any internet-connected device, and its description-based search feature makes it easy for end users to find budget items.
Who Uses Enterprise Budgeting?
Many Enterprise Budget users are large organizations or government agencies that chose the software because it integrates seamlessly with TechnologyOne’s suite of SaaS integrated enterprise solutions. While the budgeting software is available as a stand-alone product, it is not often purchased this way. However, subscribing to Enterprise Budget may be a prudent step for smaller companies or agencies that operate in heavily regulated industries or have comprehensive budgeting and forecasting needs.
TechnologyOne solutions are used by over a thousand organizations in Australia, New Zealand, and the United Kingdom, and the company is rapidly expanding its reach into other markets from its 14 offices in five countries. The company’s software is especially popular in the health care and financial sectors and in asset intensive industries such as logistics and energy.
Enterprise Budgeting Features
Enterprise Budgeting has been designed to meet the needs of organizations and agencies that rely on timely and accurate budgets and forecasts. The business budgeting software meets these needs and improves efficiency and productivity with a wide range of features that make entering, managing, and accessing crucial data far less time consuming. The features and benefits of Enterprise Budgeting include:
- Process simplification: Enterprise Budgeting automates much of the forecasting and budgeting process, which leverages ledgers and charts and greatly reduces repetitive data input.
- Increased accountability: The financial budgeting software allows the responsibility for completing budgeting tasks to be assigned to designated individuals based on their workplace duties. This empowers staff, ensures accountability, and encourages a more devolved organizational approach.
- Interactive reporting tools: Enterprise Budgeting users can view line items, cost centers, and information from several departments on an interface that has a familiar spreadsheet layout.
- Forecast accuracy: The software monitors performance and analyzes trends in real time to produce accurate forecasts quickly. The speedy processing of historical data allows organizations to set realistic budgetary goals and keep track of their progress as they work to reach them.
- Cost control: Budgets, forecasts, and actuals are tracked automatically to help keep costs within established limits. Users can see at a glance when costs are climbing beyond these parameters and corporate strategies are becoming incompatible with budgetary realities.
- User friendly search: Enterprise Budgeting allows users who do not have access to account codes to search for budget items by entering their description.
- Cloud-based access: Budgets and forecasts can be accessed and updated using any device capable of accessing the cloud.
- Automatic approvals: Enterprise Budgeting enables swift and informed decision-making by automating most budget and approval processes. This functionality also flattens the software’s learning curve and reduces training costs.
- Regulatory compliance: The software’s robust range of compliance features include highly customizable access controls, comprehensive audit trails, designated approval levels, and secure version tracking.
- Operational evaluations: The impact that proposed operational changes would have on budget outcomes can be determined in minutes instead of hours or days with Enterprise Budgeting.
- Centralized control: Enterprise Budgeting stores financial information centrally, which makes managing large budgets far simpler and ensures that the data used in all departments is valid and accurate.
- Faster communications and better decisions: The ability to analyze budgets from the top-down and bottom-up makes sure that important information gets to key personnel quickly, and understanding the financial impact that decisions will have can drive timely interventions and prevent costly mistakes.
Enterprise Budgeting Pricing
Like TechnologyOne’s other business software solutions, Enterprise Budgeting is offered on a monthly subscription basis. Prices for the software are not published on TechnologyOne’s website, but those interested in learning more about the benefits offered by Enterprise Budgeting can ask for a custom quote.
The software offers a rapid return on investment when it is purchased as part of a suite of products that share the same architecture, but it can also pay for itself quickly as a stand-alone option for users with specific needs. Other solutions from TechnologyOne include cash receipting, content management, human resources and payroll, supply chain management, and capital planning. These modules integrate well because they use the same databases, organizational hierarchies, logic processes, and account code structures.
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