Driver-based Payroll Forecast Template

What is a Driver-based payroll forecast template?

Payroll forecast entry forms are considered a critical part of automated forecasting models and are used by HR and budget managers to develop salary expense and hiring plans. A key functionality in this type of forecasting model allows the user to quickly enter the total target payroll expense and break it down for each position. Then, individual / position level adjustments can be made. Here is an example of this type of forecasting model.

 

Purpose of Driver-based payroll forecasting models

Businesses and organizations use driver-based payroll forecasting models to rapidly develop one or more forecasting scenarios as part of their human capital planning process. When used as part of good business practice in financial planning and analysis (FP&A) or human resources departments, a company can improve strategic workforce planning and cost-related decisions, as well as reduce costs. risks of overspending or underspending that can potentially have a drastic impact on profitability.

 

Driver-based payroll forecast model example

Here is an example of a driver-based payroll forecast form that calculates wages, taxes, and benefits.

Payroll Forecast

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Who uses these types of forecast template forms?

Typical users of this type of report are: Human resources (HR) and budget managers.

 

Other forecasting models often used in conjunction with Driver-based payroll forecasting models

The Progressive Financial Planning and Analysis (FP&A) and Human Resources Departments sometimes use several different driver-based payroll forecasting models, along with additional forecasting and budgeting models and other management and control tools.

 

Where does the data for the analysis come from?

Actual data (historical transactions) usually comes from enterprise resource planning (ERP) systems such as: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics SL , Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Netsuite and others.

In analyzes using budgeting or forecasting, the data typically comes from internal Excel spreadsheet models or from professional business performance management (CPM / EPM) solutions.

 

What tools are typically used for reporting, planning, and dashboards?

Examples of business software used with the aforementioned Enterprise Resource Planning (ERP) data and systems are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example, Microsoft Excel)
  • Corporate performance management (CPM) tools (for example, Solver )
  • Dashboards (for example, Microsoft Power BI and Tableau)

 

Business Performance Management (CPM) Technology Solutions and More Examples

See hundreds of sample reports, consolidations, planning, budgets, forecasts and dashboards here