Hanna Kim
How to Prepare for Your First Budget Software Implementation (Budgeting Series)

This article will focus on the process of preparing for a successful software implementation.

Congratulations! You’ve finally made the first step in investing in a budgeting software. This is huge. Budgeting solutions will make a world of difference in streamlining painful, manual processes and will also often improve decision-making capabilities. Whether you are about to buy a tool or you just purchased one, you are on the verge of a software implementation. Many software implementations can be challenging, and only a few companies today achieve successful software implementations on the first try. In this article, we will explore the sixth installment of our budgeting series: how to prepare for your first budget software implementation.

Continue reading

Hanna Kim
The Importance of Easy User Security in Budgeting (Budgeting Series)

This article will discuss the topic of easy user security in budgeting software.

shutterstock_computersecurity

Photo taken from Shutterstock.

We live in a society where security should never be overlooked. We hear and witness hacking stories and security issues all the time. Legendary Limp Bizkit frontman Fred Durst not so famously once said “if you want to know how not secure you are, just take a look around. Nothing’s secure. Nothing’s safe. I don’t hate technology, I don’t hate hackers, because that’s just what comes with it, without those hackers we wouldn’t solve the problems we need to solve, especially security.” In the same way, companies too have to assume that their data is not in a safe place. Over all, as technology moves to the cloud and/or web-based budgeting solutions, data is making the move, too. This article will approach the topic of security, the fifth installment of our series on budgeting.

Continue reading

Hanna Kim
The Benefits of Automated Payroll Budgeting (Budgeting Series)

This article discusses the significance of automated payroll budgeting.

automatedpayrollbudgeting

Ever wonder how your company handles payroll planning? I do. It is important to know how your organization budgets payroll because it is typically large part of your company’s master budget. Payroll can be a complicated process for employers. To get a better understanding, let’s define what payroll is. According to Investopedia, Payroll is the “sum total of all compensation a business must pay to its employees for a set period of time or on a given date. It is usually operated by the accounting department of a business. Payroll can also refer to the list of employees of a business and the amount of compensation due to each of them.” Payroll automation refers to the use of computers to produce paychecks and manage payments for an organization. Payroll automation is often integrated into the company’s enterprise resource planning (ERP) system that gives a thorough view of the finances of the company. This article is the fourth installment of our series on budgeting: Automated Payroll Budgeting.

Continue reading

Hanna Kim
Data Warehousing for Manufacturing Companies Using Sage 100

This article will zoom in on the impact of a data warehouse solution for manufacturing companies using Sage 100.

DW for Sage 300

Photo taken from Shutterstock.

Corporations use data to set and meet goals in order to stay on budget. A data warehouse is a powerful tool to organize and strengthen Business Intelligence (BI) analyses. A data warehouse (DW) is a multi-dimensional database that can store a large amount of data, collected from an array of sources within a company and utilized to guide management decisions. The information in data warehouses can be used for things such as scheduled budgeting, reporting, and dashboards or higher level performance data questions. They structure around the subject, so they focus the interaction through organizing by topic such as customer, product, or sales. As a manufacturing company using Sage 100, you may want to know the impact a data warehouse solution has for your company.

Continue reading

Hanna Kim
Budgeting for Manufacturing Companies with Sage 100

This article will discuss budgeting solutions that can expand your Manufacturing planning processes with Sage 100.

It is becoming clear today that Business Intelligence (BI) analytics tools are becoming more important as it is the way to turn important data into dynamic decision-making for the future of the organization. There are various software choices that can assist manufacturing companies using the Sage 100 enterprise resource planning (ERP) system in taking their budgeting to the next level, whether you choose to design your own model in Excel, rely on native Sage functionality, or select an independent software vendor (ISV) tool. This article will focus on the top features and functions in modern budgeting software that will impact the way you manage and analyze data for your manufacturing company.

Continue reading

Hanna Kim
Excel-based Budgeting Tools versus Web-based Budgeting Tools (Budgeting Series)

This article focuses on the difference between Excel-based and Web-based budgeting tools.

Choosing the right budgeting tool is extremely important for a growing company. Many financial companies use homegrown Microsoft Excel models extensively in their budgeting, but there are some limitations that are inherent in the application. I admit Excel is a great tool for modeling and analysis, but it is not the best tool to use for budgeting. Software companies are developing commercial budgeting tools that are Excel-based and Web-based to stay familiar with the features and functionalities that most professionals are accustomed to. In this article, we will explore the advantages and the drawbacks of both Excel-based and Web-based budgeting tools that organizations experience. This article is the third installment of our series on budgeting: Excel-based Budgeting Tools Versus Web-based Budgeting Tools.

Continue reading

Hanna Kim
Live ERP Budgeting, What Is It?

This article will touch on the basics of budgeting with your ERP system.

ERPBudgetingBI360

The process of investing in a new Enterprise Resource Planning (ERP) software can be a daunting task. Where do you start? Do you find reviews online and hope they are in line with your company’s needs and goals? Let me break it down for you. We’ll explore the basics of ERP from software pricing to ERP utilization with third party budgeting solutions.

Continue reading

Hanna Kim
Budget Consolidation in Multi-Entity Organizations (Budgeting Series)

This article focuses on consolidating finances from multi-entity companies.

Photo taken from Shutterstock.

Photo taken from Shutterstock.

Nobody likes growing pains, but every company wants to grow. Growing pains are symptoms that an organization needs to make a transition. It is the nature of business. There is a way to alleviate these pains through automated consolidation of your company’s budget. Budget consolidation, just like financial consolidations, is growing in significance because of reasons such as globalization and the popularity of acquisitions and mergers. Nowadays, it is not uncommon for a mid-sized organization to own many legal entities in different locations. Although a business’ budget consolidation requirements may not be that complicated, creating a set of consolidated accounts can be time consuming and prone to many errors if done in Microsoft Excel spreadsheets. There are many financial consolidation tools and solutions that can also automate the consolidation of your budgets and they can replace or improve existing processes and systems. This article is the second installment of our series on budgeting: Budget Consolidation in Multi-Entity Organizations.

Continue reading

Hanna Kim
Sales Forecasting and Analysis for Microsoft Dynamics CRM and Salesforce

This article discusses tools that will impact forecasting and analyses for Microsoft Dynamics CRM and Salesforce users.

Photo taken from Shutterstock.

Photo taken from Shutterstock.

If your organization has a sales and marketing team, and your organization wants to show your customers that they are a priority, a customer relationship management (CRM) software is probably a good thing to invest in. If you are not familiar with CRM, let me give you a brief overview of it, as well as examples of how CRM can benefit your company.

Continue reading

Hanna Kim
Best Budgeting Tools for Microsoft Dynamics GP Users Replacing Forecaster

This article will focus on Forecaster and the options for investing in a new budgeting tool.

Photo taken from Shutterstock.

Photo taken from Shutterstock.

Have you been using Forecaster to budget your finances? Microsoft recently made the announcement that Forecaster will not be available or supported for new Microsoft Dynamics GP 2016 customers. There are around 48,000 GP customers of out of 200,000 Dynamics ERP users, and around 2,000 organizations are using Forecaster in their budgeting procedures. Therefore, companies who have used Forecaster as a budgeting tool are looking for an alternative.

Continue reading