For today’s businesses, making the right decisions quickly is vital. Being able to see the overall consequences of different future scenarios (i.e. the consequences for profit, liquidity, and balance), as well as having the ability to make sound decisions based on historical as well as the latest accounting figures, is the best way to achieve this.
Profitbase enables companies to merge their strategic, financial, and operational plans with performance metrics to enhance the quality of planning cycles. This provides a stronger basis for improved decision-making, reduces planning time, and creates a good collaborative environment for management and employees in one integrated solution.
Our solutions enhance a company’s ability to develop better and more accurate budgets and forecasts. Faster planning cycles and easier administration are achieved with one integrated system. Operational budgets and forecasts are directly integrated with financial data and the integrated planning process increases efficiency and reduces the risk of errors and technical challenges. The system helps management and contributors to make operational and financial decisions in a confident and productive manner.
The accuracy of budgets and forecasts is improved when they are based on historically correct figures and consolidation occurs automatically. The solution automates many processes, thus eliminating the manual processing of historical data. New budget plans based on changes to overall goals or conditions are created automatically. This minimises the risk of errors and reduces the time spent on generating such plans by 90%.
Users have easy access to input forms via a web browser. The forms are configured according to the company’s specific needs; the customer determines the number of columns, rows, content, reference data, and logic. The user interface supports most Excel-like cell operations such as formulas, drag and drop, copy and paste, etc. The input solution has resulted in a drastic reduction in time spent on setting up and collecting budget and forecast data compared with traditional Excel models. Data quality is improved and the risk of user error, which affects the model’s consolidation capability, is eliminated.
Get a complete overview of all phases of the planning process and make sure it is implemented according to plan. The solution administrator can always see an up-to-date status showing who has started to enter data and their progress and who has finished. This enables the administrator to more easily plan and implement other budget and forecast exercises using internal transactions and analyses and viewing their impact on relevant key figures. The progress function can be customised to show more status indicators, which can assist a more straightforward and understandable implementation of the input process.