When the CFO of a multi-plant medical devices manufacturer found their ERP’s budgeting module to be intricate, rigid and that it lacks collaboration, she contacted IQubz, Microsoft Certified Partner, to develop a Corporate Budgeting solution that provides for an efficient, centralized and collaborative process of financial budgeting from its creation to approval.
The corporate budgeting solution allows plant managers to create and revise their plant-specific budget or forecast, and submit for approval. Approved budgets and forecasts are used for financial reporting purposes.
Corporate Budgeting At A Glance
- Sales and Cost of Goods Sold (COGS) by Customer and Product
- COGS by Material, Labor, Overheads and Outside Services
- Sales, General and Administrative (SG&A) Expenses
- Allocations, Other Income / Expense, Tax Provision / Benefit
- Collaborative budget and forecast creation and revisions
- Budget template creation
- Rolling forecasts creation
- Centralized approval process
- Data available for financial reporting for Actual vs. Budget analysis