For many companies, creating the budget can be an extremely time-consuming process - working with multiple spreadsheets, consolidating input from various departments, version control issues and broken formulas. Incorporating sales and operational data into your budget is often quite complex and requires a lot of collaboration, which is difficult when everyone is working on static spreadsheets.
Phocas Budgeting and Forecasting software dramatically simplifies this because the process is automated. Phocas easily extracts data from your ERP and multiple other sources enabling you to quickly build your budget. Plus, gaining input from finance, operations, sales and inventory is an easy process because everyone is working from the same data source, changes are updated in real-time, and built-in security means you can only access and action what you have been assigned.
When collaborating on the budget is made easy, people will be more inclined to contribute to the process - meaning your finance team is not constantly chasing feedback and more valuable insights are included in your budget from the get go.
With Phocas making budget building easy and collaborative, this paves the way for more accurate, frequent forecasting that's powered by real-time data. Ultimately, Phocas turns budgeting and forecasting into a well-oiled machine that drives business planning, helping you make more informed business decisions for the future.
For more detailed insights as to how Phocas Budgeting and Forecasting can help your business, check out our blog.