This article will focus on the Top Cloud-based Financial Planning &Analysis (FP&A) Budget Tools for Banks.
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The way things used to be – When I first got into building a budget for a bank, we were using Lotus 1-2-3 spreadsheets that were stored on 5¼ inch floppy disks. The spreadsheet was basically a 24-month trial balance for each branch or department. The first eighteen months contained historical balances. The remaining eighteen months were the forecast for the rest of the current year and budget for next year.
