As a progressive SAAS company using Acumatica ERP, you know the importance of accurate and timely financial forecasting to drive strategic decisions. While Acumatica comes with built-in forecasting tools, third-party forecasting software can provide additional functionality and insights.
Here are the top 10 features to look for when evaluating third-party forecasting software for Acumatica:
- Pre-built integration to the ERP system: The forecasting software should seamlessly integrate with Acumatica ERP to ensure data consistency and minimize manual data entry.
- Cash flow forecast: A cash flow forecast is essential for managing working capital and ensuring adequate liquidity. The software should provide accurate and detailed cash flow projections.
- Subscription sales and recurring revenue forecast: If your business has a subscription-based revenue model, the software should allow for accurate forecasting of recurring revenue streams.
- Payroll forecast: The forecasting software should be able to accurately project payroll costs based on current employee data, including salaries, benefits, and taxes.
- Workflow: The software should provide a streamlined workflow for forecasting, including collaboration and approval processes.
- Flexibility: The software should be flexible enough to accommodate different forecasting methods, including top-down and bottom-up approaches, and allow for scenario planning.
- Driver-based models: The software should use driver-based models to project future financial outcomes based on underlying business drivers, such as sales growth and cost drivers.
- Security: The software should have robust security measures in place to protect sensitive financial data, including role-based access controls and encryption.
- Reporting and analysis: The software should provide powerful reporting and analysis capabilities to help you understand the drivers of financial performance and make data-driven decisions.
- Easy to use: The software should be intuitive and easy to use, with a user-friendly interface and minimal training requirements.
A modern forecasting software can make life easier for power users in the office of finance and accounting departments in several ways:
- Less time spent managing forecasting processes: With streamlined workflows and automation, forecasting software can free up valuable time for finance and accounting teams to focus on higher-value tasks.
- More time for higher value tasks: Forecasting software can provide accurate and timely insights into financial performance, enabling finance and accounting teams to focus on strategic analysis and decision-making.
- Less risk for mistakes: By automating key processes and minimizing manual data entry, forecasting software can reduce the risk of errors and ensure data accuracy.
- Faster and better decisions: Accurate and timely financial forecasting is essential for making informed and strategic decisions. Forecasting software can provide the insights needed to make decisions with confidence.
- More accurate forecasts: With powerful modeling and analysis capabilities, forecasting software can provide more accurate and reliable forecasts, helping to minimize surprises and ensure business stability.
- Faster forecasting: By automating key processes and minimizing manual data entry, forecasting software can provide faster and more timely forecasts, enabling finance and accounting teams to make faster decisions.
In conclusion, when evaluating third-party forecasting software for Acumatica ERP, it’s essential to look for features that can help you streamline forecasting processes, provide accurate insights, and make informed decisions. By leveraging the power of modern forecasting software, finance and accounting teams can spend less time on manual processes and more time on higher-value tasks, all while minimizing risk and improving financial stability.
Only Solver delivers a one-day rapid deployment, including free and instant access to $100K of value available on Day 1 in the Solver Marketplace. Solver is committed to helping you with all your advanced planning and reporting needs, so you can Accelerate Better Decisions – starting now.