Budgeting Software Can Make or Break the Organization
While many software solutions have been developed to simplify the task of budgeting, choosing the right one can be complicated. Certainly, ease-of-use is an important consideration, as well as the ability to customize for the particular needs of an organization. But even more important is how well the software allows the company to connect budgeting with other critical functions that drive company performance — monitoring and measuring results, analyzing performance, and planning for multiple scenarios. And if a budgeting software solution can't easily tie together data from all the divisions of the enterprise and facilitate communication through the company, chances are it will be ineffective.
IBM Offers Software that Connects Budgeting with Planning, Reporting and Scorecarding
IBM, the world leader in performance management solutions, offers world-class budgeting software as part of a suite of products designed to improve enterprise performance. IBM solutions can be deployed individually to address specific issues, or collectively to support performance management initiatives. The effectiveness of IBM solutions is evidenced in the customer base the company has won, which includes nine of the top 10 consumer goods companies, 80 percent of the top 25 pharmaceutical companies worldwide, and nine of the top 10 banks in the U.S., and many more. Enterprises have saved millions with IBM budgeting software and cut lengthy budget processes by months.
Make Budgeting Dynamic with Powerful Software Tools
IBM budgeting software offers three major advantages over alternatives. First, it allows organizations to create dynamic budgets that can be updated in real-time as conditions changes and opportunities arise. This shortens the budgeting cycle and makes it far more responsive to shifting trends and changing markets. Second, IBM enables companies to create a single, collaborative budgeting process that can involve participants throughout the organization — a marked improvement the traditional aggregation of multiple spreadsheets developed by every department — and facilitates buy-in with and communication about budgets across the enterprise. And finally, IBM software ties budgets to business — drivers instead of outcomes, in order to better anticipate the effects of unexpected business events. This is essential for companies that are determined to stay competitive by moving quickly to take advantage of new opportunities.
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