Budgeting & Planning Solutions
Streamline your financial processes and make more informed decisions with automated budgeting, planning, and forecasting solutions.
"*" indicates required fields
Capabilities
Shrink Budgeting & Planning Cycles and Plan with More Speed and Accuracy
In today’s challenging business environment, finance professionals face mounting pressure to produce budgets, plans and forecasts quickly and accurately. Unfortunately, conventional manual planning processes involving multiple static Excel spreadsheets are time- and labor-intensive and invite errors. With the right tools, you can break free from these challenges and take your budgeting and planning from inefficient and cumbersome to collaborative, timely, and accurate.
insightsoftware’s budgeting and planning solutions can help you simplify and automate your budgeting and planning activities, improve data quality and visibility, and enhance your decision-making and performance.
Use Cases
Level Up Your Budgeting &
Planning Processes
Budgeting and Planning software can help you address various use cases relevant to your business needs and goals.
Many Businesses are stuck with slow, protracted, manual budgeting and planning processes that hinder their ability to respond to ever-changing market conditions. Furthermore, the lack of real-time visibility into financial performance can inhibit proactive decision-making and impede allocating resources effectively.
For increased confidence in your organizational plans, you need a solution that:
- Allows continuous updates and revisions to financial forecasts based on accurate, real-time information from multiple data sources.
- Automates routine tasks and workflows reduces manual effort and increases efficiency allowing for regular planning updates and cadences.
- Provides businesses with the tools and capabilities to adopt an agile and dynamic approach to financial planning.
A common challenge facing businesses today is a lack of information needed to make well-informed, strategic decisions. Traditional planning methods tend to rely on single-point estimates, assuming a predictable and stable future. This approach can be inadequate and even risky.
To gain insight into business performance and enhance strategic decision-making, businesses need a solution that:
- Can analyze multiple plausible scenarios that account for various potential future outcomes.
- Helps businesses identify risks and opportunities, tests the robustness of their strategies, and develops contingency plans. By implementing scenario planning, companies can be better prepared to navigate uncertainty and make more informed strategic choices.
Businesses often face numerous challenges in their financial planning and decision-making processes. Traditional annual budgeting cycles can be time-consuming and inflexible, making it difficult for organizations to respond quickly to changing market conditions. Moreover, relying solely on historical data and fixed budgets can lead to inaccurate forecasts and missed opportunities.
To overcome these challenges, businesses need a solution that:
- Enables real-time visibility into financial performance and compares actual results against budgeted targets, allowing finance teams to identify and investigate variances, understand the root causes, and take corrective actions promptly.
- Provides rolling forecasts, analytics tools, and customizable dashboards to facilitate data visualizations and performance monitoring.
Businesses frequently struggle with fragmented planning processes. Siloed departments, poor coordination, and communication challenges between different functions often result in conflicting goals and objectives, hindering a business’s ability to achieve its strategic objectives.
Automated, integrated budgeting and planning software can help businesses overcome these complicated challenges, breaking down silos and creating planning transparency. It can enable cross-functional collaboration and alignment by providing a centralized platform for sharing data, plans, and insights through powerful workflows, automation, sophisticated data access rules, and full audit trails.
Products
For Budgeting & Planning
Bizview
Fast, integrated, web-based budgeting, planning and forecasting designed for growing mid-sized businesses needing a scalable solution.
- Shrink planning cycles and improve team productivity
- Support ongoing and continuous planning
- Increase planning transparency and accuracy
- Scale and adapt to your growing business needs
Calumo
Automated reporting, planning, and budgeting for government agencies in the Asia Pacific region.
- Experience dynamic forecasting
- Support role-based security
- Automate workflows and approvals
- Extend planning and analysis beyond finance
IDL Forecast
Consolidated financial planning and forecasting for DACH companies.
- Create effective, accurate group-wide financial plans and forecasts
- Customize business rules
- Automate your process with integrated workflows
- Utilize the rules wizard and templates to create financial plans faster and more intuitively
Longview Plan
Integrate planning and consolidation data to accelerate and improve planning cycles.
- Model faster and more accurately
- Analyze data and uncover contextual insights
- Manage workflows and increase productivity
- Secure, scalable, and elastic infrastructure
Tidemark
Continuous and extended financial planning software for your enterprise.
- Integrate and extend your planning processes
- Scalable, multi-tenant cloud architecture
- Run complicated scenarios and calculations in real time
- Automate key planning tasks
Roles & Industries
Making Use of Budgeting & Planning Software
Budgeting and planning software is used by various roles across the finance function and the business.
CFO
The Chief Financial Officer (CFO) plays a crucial role in budgeting and planning within an organization. They are responsible for overseeing the budgeting process, ensuring alignment with strategic goals, and providing financial analysis and insights to support decision-making.
Budgeting and Planning Software can empower CFOs with improved accuracy, efficiency, visibility, and control in financial planning processes. It helps support strategic decision-making, collaboration, compliance, and enhances the overall financial management capabilities of the CFO.
FP&A Director
The FP&A Director is crucial to budgeting and planning as they oversee the overall financial planning process, analyze financial data, and provide strategic insights to support decision-making.
Budgeting and planning software helps FP&A Directors by providing advanced financial modeling and analysis capabilities, integrated data management, real-time reporting and dashboards, collaboration and workflow management, forecasting and scenario analysis, automating repetitive tasks, and ensuring compliance and audit-ability.
Financial Controller
The Financial Controller plays an important role in budgeting and planning by overseeing the financial aspects of the process, ensuring accuracy and compliance, and providing insights and analysis to support decision-making.
Budgeting and planning software helps Controllers by streamlining data management, improving accuracy and efficiency, enhancing financial analysis and reporting, providing real-time visibility and monitoring, facilitating collaboration and communication, enabling scenario analysis and forecasting, and ensuring compliance and audit-ability.
Financial Services
Budgeting and planning software is widely used in the financial services industry to manage complex financial portfolios, track investments, and ensure regulatory compliance. It enables organizations to analyze financial data, forecast future performance, and optimize resource allocation, resulting in better decision-making and improved financial performance.
Manufacturing
Within the manufacturing industry, budgeting and planning software is essential to streamline production processes, optimize inventory, and manage costs. It helps manufacturers plan for raw material procurement, forecast production volumes, and assess the financial impact of operational decisions. This software enables manufacturers to align their budgets with production goals and drive efficiency across the supply chain.
Healthcare
In the healthcare industry, budgeting and planning software plays a crucial role in managing operational expenses, forecasting patient demand, and optimizing resource allocation in hospitals and healthcare facilities. It helps healthcare organizations track reimbursements, analyze costs, and plan for capital investments to ensure financial stability and deliver quality patient care.
Retail
Retailers utilize budgeting and planning software to manage their sales forecasting, inventory planning, and pricing strategies. The software enables retailers to analyze sales trends, forecast demand for products, and plan promotional activities. This helps retailers optimize their budgets, improve inventory management, and enhance customer satisfaction through effective product availability.
Information Technology
Budgeting and planning software is important for IT organizations to manage IT infrastructure investments, plan software development projects, and allocate resources effectively. It helps IT departments analyze IT spending, forecast IT costs, and align technology investments with business objectives. This software enables IT organizations to optimize their budgets, improve project planning, and ensure the successful implementation of IT initiatives.
Professional Services
Professional service firms, such as consulting, legal, and accounting firms, use budgeting and planning software to manage client billing, allocate resources, and assess project profitability. The software allows these firms to track billable hours, analyze revenue projections, and budget for operating expenses. This enables professional service firms to optimize their budgets, improve resource allocation, and maximize client profitability.
Nonprofit Organizations
Nonprofit finance teams must manage their diverse and often constrained funding sources quickly and efficiently. Budgeting and planning software allows them to track donations, analyze fundraising trends, and create budgets that align with their mission and strategic objectives. This software enables nonprofits to improve financial transparency, demonstrate accountability, and make informed decisions to fulfill their social impact.
Government
Within the public sector, budgeting and planning software is widely used to manage government spending, allocate funds across departments, and ensure transparency in financial operations. It helps government agencies analyze revenue projections, track expenditures, and allocate resources to prioritize public programs and services. This software enables governments to improve financial accountability, optimize budgets, and make data-driven policy decisions.
Education
In the education sector, budgeting and planning software assists educational institutions in allocating resources for academic programs, managing personnel expenses, and planning for capital investments. It enables schools and universities to analyze enrollment trends, forecast revenues, and manage budgetary constraints. This software helps educational institutions optimize their budgets, improve financial accountability, and deliver quality education services.
Energy and Utilities
Budgeting and planning software is utilized by energy and utility companies to manage capital expenditure planning, forecast energy demand, and optimize maintenance activities. It helps these companies analyze revenue forecasts, evaluate capital investments, and plan for operational costs. This software enables energy and utility companies to optimize their budgets, improve asset performance, and ensure reliable energy delivery to customers.
Webinars & Resources
How Finance Leaders use Automation to Modernize their FP&A Teams
The Key to Financial Agility: Low-Friction Continuous Planning
FAQs
Budgeting and planning software is a technology solution that helps organizations create, manage, and analyze budgets and financial plans. It automates manual processes, provides advanced modeling capabilities, and enables collaboration and data-driven decision-making.
Budgeting and planning software offers numerous benefits, including improved accuracy and efficiency in budgeting processes, enhanced visibility into financial data, better alignment of budgets with strategic objectives, streamlined collaboration among teams, and the ability to conduct scenario analysis and forecast potential outcomes.
Budgeting and planning software can integrate with various systems, such as ERP systems, data warehouses, and financial reporting tools. This integration allows for seamless data transfer, real-time updates, and leveraging existing data sources for budgeting and planning.
Yes, budgeting and planning software can accommodate different budgeting methodologies, such as top-down, bottom-up, zero-based budgeting, or driver-based budgeting. The software provides flexibility in defining budgeting structures, allocating resources, and incorporating different forecasting techniques to suit an organization’s specific budgeting approach.
Yes, budgeting and planning software is designed to be scalable and can be used by organizations of various sizes and industries. It can cater to different sectors’ specific needs and complexities, whether manufacturing, healthcare, retail, or nonprofit. It can handle the budgeting and planning requirements of small and large enterprises.