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Budgeting & Forecasting

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Integrated Business Planning

In the area of budgeting and rolling forecasts, we have developed several solutions for different industries and needs. To get started quickly, Profitbase has used its experience, expertise and tools to develop a quick-start solution that is a good starting point for a customized planning solution.

Profitbase Planning is the cross-section of solutions we have provided over the years and is designed for those who want a standard solution and a quick start.

Profitbase Budgeting Solution Report on a Laptop

Drastic reduction in time spent on collecting budget and forecast data

“Profitbase has extensive experience in delivering financial and operational planning solutions.
We provide solutions that enable full control of business planning processes across your entire organization.”

Stig Roar Sandvik

CEO

Make sure your budget and forecast are not obsolete before they are even completed. Surviving in a fast, ever-changing, complex environment means organizations need flexible tools that enable businesses not just to survive, but to give their business processes a competitive edge. Adopting a modern platform that fits your business processes instead of the other way around is a great start.

Profitbase EPM has proven to drastically reduce time spent on setting up and collecting budget and forecast data compared to traditional Excel models. It also improves data quality and eliminates the risk of user error affecting the model’s consolidation ability.

Make the right decisions quickly

See various scenarios

Increased quality of the planning cycles

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Features

Planning areas

Expense planning

Purchase planning

CapEx planning

Sales planning

Payroll planning

Loan planning

Key features

Easy to use, no training required

Runs in the browser on all major platforms

Familiar Excel-style spreadsheet input

Permission and role-based security

Change tracking

Validation and data quality

Workflow and process management

Interactive charts and reports

Real time calculations and feedback

Cell and row comments

Simulations and “what-if” scenarios

Key advantages

Unifies and streamlines financial and operational planning

Eliminate manual data collection and reconciliation

Enables fast and accurate planning cycles

Ensure data quality and compliance to business rules

Planning

Profitbase helps you turn operational plans into finance results and cash forecast.

Account planning

The most widely used method for creating Forecast and Budget, is input on accounts and time across business units. Profitbase has an excellent solution for this: Using a Profit-Loss report, you can navigate to different planning areas (e.g. sales, payroll, etc.) to provide input and see the input aggregated in the report. You can provide input as a year total that is then distributed on periods according to distribution keys, or you can enter numbers directly on periods.

On Accounts planning is simple and works cross industries – at least from a finance accounting point of view. For an end user that is working in operations where the logical productivity measures are volume sold, goods consumed and produced and hours worked, this may not be the most logical way to provide plan input. Therefore, we often deliver custom build modules or use other fit-for-purpose input modules such as the Headcount planning described below.

Headcount planning

The purpose-built Headcount planning module makes it easy and fast to provide a staffing plan and use that to drive other payroll costs. For each employee or employee type you provide the FTE (full-time-equivalent) and the monthly or yearly cost such as salary, overtime, bonus, etc. The system then calculates and put on account the social costs, the total salary and other expenses.

Asset planning

The Asset Planner is a planning module for companies with large portfolios or fleet. It enables you to budget and run a rolling forecast for future revenue and costs per asset (Object), such as ships, property or capital-intensive leases. The module is used, among other things, to plan ship revenues based on future freight rates, exchange rates and costs such as docking, bunkering, crewing etc. All this can be done down to day level so that you can get a complete overview of the profit and cash flow per asset (Object).

Project performance planning

Project performance planning looks at each project to predict how they will perform with respect to income and direct cost. This involves predicting the effect of potential delays and extension orders. From this you will get the income and direct cost that amounts to a gross margin that will contribute to your finance forecast.

CapEx planning

Cash is an important part of all financial planning and involves planning investments. In a forecast or a budget process you will get demand for investments and calculated depreciation. Depreciation may not seem that important however it is useful to show and educate business unit managers that they will carry the depreciation from current and previous investments on their books.

Cash planning

Profitbase simulates and generates a general ledger in order to get a correct balance sheet and hence a proper cashflow prediction. This enables our customers to make better decisions concerning financial risk and how to manage their cash better.

Customers