After completing a survey for Winshuttle in 2013, SAP customers using Business Planning and Consolidation (BPC) techniques noted several benefits and challenges.
The longer budgets take to be determined, the less agile and responsive businesses are to change. Learn about the benefits to Budget Process Automation.
Our latest survey with ACCA revealed that an estimated 90% of businesses are still using spreadsheets for budgeting and forecasting, despite the inherent risks associated with this tremendously flexible tool. At the same time, more than half the respondents also said that they were happy with the current process even though it is Excel or electronic spreadsheet based. This dependence on an ordinary Microsoft Office tool is more a testament to the power of Excel than a commentary on the critical nature of budgeting and forecasting processes. After-all budgeting and forecasting is the cornerstone of planning activities and is something… Read more
In today’s business climate, Finance departments are expected to place an increasing amount of effort into the budgeting process. The increasing pressure to manage rolling budgets and preliminary results are indicated from our Winshuttle ACCA survey. Almost 90%, of more than 1500 respondents, continue to use Excel for the data gathering process for cyclical budgeting. Accountants and business users like to use Excel because of the ease of use and the two dimensional aspects of working with spreadsheets. Report formatting is relatively easy and the most recent updates of Excel enable basic data analysis when the data is used in… Read more
Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global body for professional accountants offering the Chartered Certified Accountant qualification. ACCA is one of the largest and fastest-growing global accountancy bodies with 154,000 members and 432,000 students in 170 countries. This week, we reveal many of the results and conclusions that came from the joint ACCA and Winshuttle Budgeting and Planning questionnaire. The questionnaire sought to understand how businesses globally are managing and undertaking budgeting and planning activities including the use of rolling budgets. It also helped analyse methods and technologies used for the launch, collation, agreement and… Read more
Fall or Autumn marks the beginning of the dreaded budgeting season for many organizations. Though we’re still waiting on the final results of our survey with ACCA, preliminary results are revealing that this recurring activity requires organizations to go through a clumsy and imprecise process that has business unit managers guessing at revenue growth, costs, and spending patterns for the next financial year. Savvy business and finance leaders that have gone through this process enough times have grown to be leery of the effectiveness of this activity and weary of the hoops that they have to jump through to perform… Read more