Cloud-based Budgeting is set to Improve the Way Organizations Plan and Forecast.
Companies everywhere struggle with answering some basic questions about their business. What are the most profitable products or services? What costs are the real drivers behind margins? Is the firm getting a solid return on investment from a new asset or advertising campaign? In the past, there have been limited options for small and medium size firms, as well as non-profit organizations, in terms of tools to address these business needs. With CloudBudget, firms of all sizes can affordably obtain, report, and analyze critical business data, so that management can focus on decision making and strategic direction, not on budget preparation.
How CloudBudget Adds Value
Robust budgeting processes can assist firms and non-profit organizations in a number of ways. For example, charitable organizations continuously face questions about liquidity; will they have cash on hand to fund their program spending? Without a reliable budgeting process, it becomes difficult to determine whether the organization needs to look at acquiring additional cash resources or increasing fundraising efforts.
CloudBudget has full pro-forma financial statements available at any time period within the budget, allowing managers to quickly identify both potential cash shortfalls, and opportunities for more rapid spending on their charitable programs, capital projects or promotional campaigns.
Budgeting is also an important part of control, both in terms of goal realization and business risk management. Without a clear direction and tangible goals, it is impossible for a business or organization to know where it stands in terms of delivering on its objectives. With a solid budget in hand, organizations can track their actual results against this plan to detect any possible deviations and management can quickly implement a new strategy to get back on track. Without a robust budget solution, the organization is essentially flying blind, without knowledge of where they stand or whether or not they will reach their organizational goals.
Cloud Technology Provides Flexibility for Dynamic Organizations
CloudBudget is a true budgeting system that relies on cloud technology in order to allow geographically or functionally diverse organizations to prepare a budget, and then analyze their results against it. Delivered as a Software as a Service (SaaS) solution, CloudBudget is affordable, allowing small and medium sized operations to benefit from its full suite of features at a reasonable cost. The days of requiring a large scale Enterprise Resource Planning (ERP) system to prepare consolidated budgets and results, a solution unaffordable to most firms, are over. With a cost of only $50 per user per month, and discounts available for annual subscriptions and non-profit organizations, CloudBudget is a cost effective solution for all businesses and non-profit organizations looking to improve business intelligence and formalize their budget process.
Further, many of the existing budgeting systems in the market today are cumbersome, requiring months to customize and many thousands of dollars to implement. CloudBudget, on the other hand, is simple to configure and can be implemented in days, not weeks or months.
Planning an expansion? Thinking about an acquisition? Downsizing? CloudBudget is a fully scalable solution, offering budgeting tools that are either as simple, or as complex as firms demand based on their circumstances. The software supports full consolidation of balance sheets and income statements, allowing the seamless integration of subsidiaries and far-flung offices. The scalability of the solution is cost effective, with the subscription fee covering all CloudBudget modules, allowing for growth without additional cost.
Comprehensive Modules Capture Every Business Dimension
CloudBudget uses a variety of modules in order to capture the comprehensive nature of today’s business planning. While some products in the market offer sales and expense forecasting, CloudBudget takes it another step entirely, including balance sheet items such as accounts payable and receivable, fixed assets and borrowing. Even taxes and fixed assets are covered by this product. What this amounts to is the opportunity to easily prepare a comprehensive view of an entire firm, not just a portion of it.
Leading Security Technology Protects Data
Some may hesitate to consider a cloud based budgeting system due to concerns over security. This is not a concern with CloudBudget, however, as the application uses force.com’s high end security platform and resides in Salesforce.com's state-of-the-art data centers, providing advanced physical, network and application security. The software is SOX 70 Type II compliant, offering peace of mind to accounting and audit departments.
For firms struggling to gain accurate business data to answer key strategic business questions in a timely manner, or that are looking for a lower cost, more efficient, and error free budgeting process, CloudBudget is a choice that limits cost while ensuring high quality, timely results.
Firms can test the full functionality of CloudBudget for free and see how much value the product can add to their budgeting process! Just head to the CloudBudget section on Salesforce AppExchange and click: “Get it Now.”