In today’s business environment, it is increasingly important for mid-market companies to have a well-designed and efficient payroll budgeting model. With the integration of modern Corporate Performance Management (CPM) software into their Sage Intacct ERP system, progressive companies are able to stay ahead of the curve and stay on top of their finances.
Here is an example of a departmental Payroll Budget form from the Solver CPM solution that calculates salaries, taxes and benefits.
Here are 7 key benefits of using professionally formatted payroll budget input models:
- Improved accuracy of budgeting forecasts
- Increased transparency and visibility into payroll expenses
- Better alignment of payroll expenses with business objectives
- Increased efficiency in the budgeting process
- Improved decision making capabilities with real-time data
- Reduced errors and improved overall data quality
- Enhanced collaboration and communication between finance, accounting, and HR teams.
In addition to these organizational benefits, there are also several personal benefits for the finance and accounting professional who provides these reports to their managers and executives. These include:
- Increased career advancement opportunities
- Improved job satisfaction
- Saved time that can be used for higher value-added work
- Improved expertise in financial management
- Enhanced professional reputation and credibility
In conclusion, integrating CPM software into a Sage Intacct ERP system is essential for companies looking to maximize their payroll budgeting efficiency and stay ahead in the competitive business landscape. By taking advantage of the benefits outlined above, finance and accounting professionals can take their careers to the next level while contributing to the success of their organization.
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.