In looking for a budgeting solution to enhance what Dynamics NAV has to offer, there are several features to consider. This article will lay out leading functionalities to consider, including easy and secure collaboration, with built-in business and accounting logic.
Budgeting within an Excel spreadsheet is perhaps sufficient when planning for a household or small business budget, especially because of the small amount of data, but growing organizations that are using Microsoft Dynamics NAV are starting to notice that a budgeting solution is a relevant option, especially as today’s software is able to invite collaboration into a much more streamlined process, moving way beyond built-in capabilities. Company-wide budgeting and forecasting is an undeniable and unavoidable responsibility because management of money within the means of a corporation empowers growth and expansion.
When it comes to budgeting for any company, there are multiple entities, departments and/or groups with data to report to analyze and plan for the future. Excel is the arguable standard bearer of spreadsheet software, but when it comes to simple and secure collaboration for multiple players, it can be a logistical nightmare. However, most Dynamics NAV users already own Excel licenses, so the return on the investment for a budgeting solution might not be clear. This blog will go about discussing the benefits of budgeting software options for Dynamics NAV – and tips to picking the right product for company needs.
One of the reasons Solver’s software is so intuitive and easy to use is because we built it for non-technical users. In fact, before we developed our software, we were business intelligence consultants, so we understood the unique challenges BI users faced. In the ’80s and ’90s, organizations typically had technical reporting experts in their finance department, or they used IT staff to do this—formal experts who were responsible for creating reports, budget models, etc.
When the 2000s came along, there was more focus on usability and ease of use. As a result, many of the tools from the 90’s were simply repurposed with a more user-friendly skin, but still had legacy platforms under the hood. This required a great deal of technology to be put in place before the end users could effectively use these tools. Even then, BI tools were still fairly rigid and difficult to use.
When we created the blue print for BI360 in 2007, we started from a completely different angle. Ease of use was our number one priority. Every time we built a feature into the product, we measured its success through usability testing. When we finished and launched BI360 in 2009, customers immediately recognized the difference. Suddenly, normal business users could take ownership of and create useful reports, budget models, dashboards, and even manage the data warehouse. It completely shifted the power from traditional finance users to everyday business users.
With the holidays just around the corner, I thought I’d share the gift of budgeting with my fellow BI enthusiasts. With Solver’s BI360 Budgeting solution, I get the best forecasting and modeling solution out there. And as surprising as this may be, I’m not even a “numbers” guy. I just plug in my budgeting goals and BI360 makes magic happen. It’s like my own little budgeting elf. But it’s inside my computer.
Watch this video, you’ll see what I mean. It’s the gift that keeps on giving to your bottom line!
BI360’s budgeting module is very easy to use, and provides your organization with a powerful budgeting and forecasting tool. With BI360 Budgeting, you can reduce your budgeting and forecasting times, as well as your implementation and software costs.
The intuitive, Excel-based interface of BI360’s budgeting module allows you to quickly adapt a budget model based on your existing budget templates; or you can completely re-engineer your process and input form layout based on your organization’s changing requirements. There are also a number of pre-defined templates you can use if it makes sense for your environment.
In this video, you’ll see how sample BI360 input templates provide the flexibility and customization your organization needs for budgeting initiatives such as departmental expenses, balance sheet, cash flow, payroll, and revenues, and more. From predictive analytics to allocations to advanced workflows with multi-step approvals, BI360 budgeting is a proven planning engine that delivers the performance and ease-of-use that your organization needs to drive efficiency and execution with state-of-the-art short- and long term planning.
Watch the video here.