2018-07 FSG BI360 Improve Your Annual Budget Seminar
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The document discusses the importance of optimizing the annual budgeting process in organizations using corporate performance management (CPM) software, particularly highlighting Solver BI360. It outlines the challenges faced in traditional budgeting methods, such as errors in spreadsheets and time-intensive manual data management, and presents the benefits of automated solutions that streamline reporting and forecasting. Raffa, a consulting firm, offers services in various areas including technology solutions and financial consulting, emphasizing its commitment to supporting nonprofit organizations.
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2018-07 FSG BI360 Improve Your Annual Budget Seminar
- 1. Helping Great Organizations Thrive www.raffa.com P: 202.822.5000 F: 202.822.0669 Improve & Automate Your Annual Budget Process July 24, 2018
- 2. Page 1 Introductions Challenges in today’s business environment What is Corporate Performance Management Introduction to Solver BI360 software Questions
- 3. Page 2 Learning Objectives Best practices for managing budgeting process Best practices for selecting budget management software Fundamentals of Bi360 software NASBA Essentials Course Update Date: 6/15/18 Course Review By: Jeremy Taro Course Reviewed Date: 6/15/18 NASBA Field of Study: Information Technology
- 4. Page 3 HINT – SOMETIMES YOU NEED TO CHANGE YOUR SOFTWARE!
- 5. Page 4 Our mission is to be a catalyst for positive system change in our community. Raffa is nationally recognized with access to all the resources of the largest international firms. We contribute to our clients’ abilities to achieve their missions and deliver promises to the world. LARGE ACCOUNTING, CONSULTING & TECHNOLOGY CONSULTING FIRM • Serve 1,500+ organizations in DC/MD/VA (Nonprofit & Professional Services) • 300+ specialists on staff at all levels • Support over 250 Financial System Clients • Certified System Consultants, Certified Project Management Professionals, Business Process Consultants 34 YEARS SERVING THE NON PROFIT COMMUNITY 19 PARTNERS, INCLUDING 12 WOMEN PARTNERS WOMEN-OWNED FIRM MULTI-CULTURAL WITH DIVERSITY AT ALL LEVELS PRIMEGLOBAL ALLIANCE MEMBER WIDE RANGE OF SERVICES • Technology Solutions • ERP & Accounting Systems • Nonprofit & GovCon Expertise • Software Development • CIO & Managed IT Services • Audit and Tax • Managed Accounting • HR Consulting • Business Advisory • Forensics and Litigation Support • Financial Services, Employee Benefit Plans, Insurance • Executive Search and Transition Services NATIONALLY RECOGNIZED • Top 100 Largest Accounting Firms (WBJ & Accounting Today) • Top 100 ERP VAR (Bob Scott & Accounting Today) • Top 100 and Fastest Growing Value Added Reseller
- 6. Page 5 Solver is an award-winning, global provider of self-service corporate performance management (CPM) software. Over 2,300 customers in 40+ countries Pre Built Integrations with Dynamics, Intacct and other software On Premise and Cloud options
- 7. Page 6 Prioritizing and effectively responding to the demands on the finance function Gathering insights from the massive data streams available Ensuring all the necessary skills and capabilities are available They need to forecast more often Collaboration is a fundamental requirement Spreadsheets are a burden Labor and time intensive Error prone Data Integrity issues & version control Confidence in process Multiple user accessibility Incomplete solution Lack of accountability, ownership and collaboration
- 8. Page 7 Manual data extraction/ transformation into Excel from multiple data sources, heavy IT involvement Complex models, formula errors/ calculation integrity, single-user Consolidating budget inputs and managing process is time-consuming. Cannot do planning allocations due to complexity/ potential for error in Excel Monthly reporting package creation/ distribution requires extensive effort Ad-hoc analysis is challenging due to extensive manual manipulation of data required Not currently doing forecasting and what-if analysis Business user accessible, intuitive and easy to use, multi user Single source of truth, integrating multiple disparate data sources Automated workflow management Flexible budgeting/ reporting at different levels of detail Seamless and automatic roll-up and consolidation Automated and powerful data manipulation tools Streamlined monthly report generation and distribution Self-service reporting, analysis and decision support Quick and easy forecasting, what-if scenario capabilities Key Challenges Desired Capabilities
- 9. Page 8 Reduce reporting and planning cycle time Accelerate responses to ad hoc information requests Minimize time to find, extract and reconcile data Ensure “one version of the truth” Enhance predictive analytics capabilities Improve understanding of Product and Customer Profitability Analysis Data collection & reconciliation Analysis Before After
- 10. Page 9
- 11. Helping Great Organizations Thrive www.raffa.com P: 202.822.5000 F: 202.822.0669 Seth Zarny, Raffa Partner [email protected] 301.279.6500 Buu-Linh Tran, Raffa Senior Manager [email protected] 301.279.6511 Jeremy Taro, Raffa Account Executive [email protected] 301.279.6504 Tom Franks, VP Solver BI360 [email protected] 310.691.5308