6 Ways to Remove Complexity and Embrace Agility in Your Planning Process
As any CFO knows, budgeting and planning processes are complex. Your business structure, priorities, and resources all influence the budgeting process. In addition, external market factors require that your planning process not only be able to address your current goals but also be agile enough to quickly respond to industry innovations, economic shifts, and more. It’s vitally important that your finance team produce accurate budgets and plans to support business operations and success.
The Challenge of Traditional Financial Planning Practices
A recent insightsoftware survey found that 95% of organizations generate either all or mostly static reports to complete their financial planning. Unfortunately, traditional, spreadsheet-based budgeting and planning processes are often riddled with time-consuming, repetitive, manual tasks that present your team with inefficiencies, open the door for errors, and divert valuable resources away from more valuable activities.
Today’s dynamic market landscape calls for trustworthy rolling forecasts and agile scenario planning, adding to your already-complex budgeting process. Often, the time-consuming nature of traditional planning processes precludes the adoption of agile planning practices. Common planning challenges such as manual data entry, version control issues, and barriers to effective collaboration leave your team unable to produce the advanced plans needed to meet modern budgeting standards.
Modernize Your Planning Process with an Agile Planning Tool
In order to meet modern planning demands, you need a modern planning tool. By moving away from time-consuming manual planning processes and implementing a modern financial planning and budgeting tool, your team will be able to automate workflows and free up as much as 50 percent more time for value-add analysis, financial modeling, and strategy.
The right budgeting and planning solution will allow your team to automate tedious manual processes and build agility into your financial budgeting and planning processes. With access to features like self-service planning templates, integrated workflows, and automated processes, your team will be able to deliver accurate in-depth financial plans with ease.
Bizview from insightsoftware offers everything you need to say goodbye to complex planning cycles and hello to an easy, standardized self-service planning process. Bizview is a powerful financial planning and analysis tool that features an intuitive interface, Excel-like workbooks, integrated workflows, and advanced forecasting models so you can easily tailor your solution to your needs.
The Budgeting & Planning Software Buyer’s Guide
Download NowThe Power of Self-Service Planning Templates
Bizview’s self-service planning templates simplify your financial budgeting and planning processes by putting control in your team’s hands. You’re able to increase agility, improve accuracy, enhance collaboration, and more efficiently respond to changing business conditions.
1. Streamlined Workflows for Collaborative Planning
Bizview’s automated workflows eliminate barriers to collaboration in the budgeting and planning process by providing a centralized platform for planning. Save time by taking control of budget entry and approvals using powerful workflows and automated, coordinated email notifications to your team. Sophisticated data access rules and a complete audit trail of changes ensure adherence to governance and compliance needs.
2. Freedom from Complexity with Automation
Traditional budgeting processes often involve a significant amount of back-and-forth communication with IT teams for budget adjustments or data input. Bizview’s self-service planning templates eliminate much of this dependency, enabling your finance team to make changes independently, saving time and reducing the burden on IT resources.
3. Enhanced Accuracy and Data Integrity
Bizview provides a centralized, consolidated database connected to multiple data sources for budgeting and planning that ensures data accuracy, consistency, and accessibility. By connecting to multiple data sources, you can leverage a comprehensive view of your financial information, enabling more informed decision-making and strategic planning. Additionally, its centralized database streamlines the process of data analysis and reporting, leading to greater efficiency and agility in adapting to changing business conditions.
4. Real-Time Insights for Informed Decision-Making
Create a single source of truth that is always up to date and available any time, on any device. Adopt a repeatable, standardized process that easily updates to reflect any changes in your ERP system, while maintaining a full audit trail. Continuously monitor and easily update your forecasts throughout the year for greater insight and increased agility.
5. Customization and Adaptability
Bizview offers flexible customization options to cater to your unique needs. Tailor your solution to align with your specific business objectives and create plans that present a more granular and accurate representation of your financial position.
6. Cloud Platform Integration for Greater Agility
Bizview is live on insightsoftware’s cloud platform, where you get more done by bringing together numerous insightsoftware applications in one place. Address your business needs faster and with less risk by picking and choosing the capabilities you need across reporting, budgeting and planning, and controllership.
Remove the Complexity from Your Planning Process
Put robust planning at the heart of your business. Bizview offers a comprehensive solution to overcome the complexities of budgeting and planning processes. Its powerful automated workflow allows your business to gain control over budget entry and approvals, bringing structure to complicated planning processes. With a centralized and combined database, everyone involved in the budgeting and planning process works from the same numbers within a consolidated solution, removing the complexity involved in working with multiple spreadsheets saved on individual PCs and the resulting confusion that presents.
Ready to learn more? Download this brochure to see how Bizview makes it easier for you to make the right budget decisions for your organization.
Make the Right Decisions Easier With Robust, Scalable, Browser-Based Planning
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