# Time Series Methods and Business Intelligent Tools for Budget Planning--Case Study
## 3 Analysis of the Budgeting Process and Its Support with ERP Systems Tools
### Supporting Budgeting by ERP Systems  
The ERP system (Enterprise Resource Planning) allows easy access to consistent and up-to-date information by combining data from several company departments into a single database. Centralizing data enables more accurate forecasting and analysis, and this is crucial for effective budgeting. ERP systems reduce errors and save time by streamlining a number of standard financial and accounting operations. This automation facilitates efficient data processing for budgeting, including liquidity management, expense tracking, and report preparation. With the help of ERP, companies can effectively monitor and control expenses. These tools help discover possible areas of cost reduction and analyze the impact of different scenarios on fixed and variable costs. They also facilitate a detailed tracking of operating and production costs. This makes ERP systems extremely necessary for effective corporate budget planning. Many modern ERP systems offer tools to support budgeting. In particular, the largest ERP systems include the following functionalities related to forecasting, planning, and creating budgets for organizations [37; 38; 39; 40]:  
1. SAP ERP (including SAP S/4 HNA) * SAP BPC (Business Planning and Consolidation) module--a budgeting, forecasting and consolidation tool. Enables scenario simulation, forecasting, reporting, and deviation analysis. * SAP Analytics Cloud--enables planning, analysis and forecasting using financial and operational data. * SAP Integrated Business Planning (IBP)--an extension of SAP S/4 HNA, which is particularly useful for demand planning and budgeting based on demand forecasts and production costs. 2. Oracle ERP Cloud * Oracle Planning and Budgeting Cloud Service (PBCS)--part of Oracle EPM (Enterprise Performance Management), offers support for budgeting, forecasting and scenario analysis. It includes tools for cost analysis and revenue forecasting. * Oracle Financials Cloud--a financial management module with budget monitoring capabilities integrating data from different business units. * Oracle Analytics Cloud--supports advanced budget analytics and forecasting
3. Microsoft Dynamics 365 Finance--includes built-in planning and budgeting tools to forecast and manage financial budgets. Integration with Power BI and Azure AI enables predictive analytics to support revenue and cost forecasting processes. 4. Infor Cloud Suite (including Infor LN, Infor M3) * Infor d/EPM (Dynamic Enterprise Performance Management)--a tool that offers support for planning, budgeting and financial consolidation. It also supports reporting. * BI tools and analytics--thanks to integration with Infor Birst analytical tools, the system enables budget forecasting and analysis. 5. IFS Cloud * IFS Planning and Budgeting--IFS offers planning and budgeting tools within its ERP system, allowing for the creation of budgets, financial forecasts and profitability analysis. It also enables integration with manufacturing and operations modules to help better estimate costs. IFS Analytics--an analytics module that supports budget reporting and deviation analysis, which allows for detailed performance monitoring. 6. Epicor ERP * Epicor Financial Management--includes features for financial budgeting and forecasting. * Epicor BI and Data Analytics--supports forecasting and budget analysis based on historical and current data, allowing the creation of reports and cost analysis. 7. Unit4 ERP * Unit4 Financial Planning and Analysis--a comprehensive tool for planning, forecasting, and budgeting with flexible financial modeling capabilities. It allows variance analysis from the budget and creating alternative financial scenarios. * Business World Module--supports comprehensive operational budget management, enabling budget scenario simulations and integration with HR data and employment-related costs. 8. Sage Intact--Sage Budgeting and Planning--a tool for budget management and forecasting. It is easily integrated with other Sage modules, enabling accurate financial planning and performance analysis.