Summary: Enterprise systems (like ERPs) rarely provide the budgeting capabilities to precisely fit your business. As a result, budgeting becomes a time-consuming, spreadsheet-driven process. Learn how one company solved this problem, automating their budgeting process and delivering custom budgeting applications to their executives on-demand.
If your business runs on an Enterprise Resource Planning (ERP) system, let me ask you a question: Does it fit your company’s unique budgeting needs?
For most businesses, I’d say the answer is “No.”
An ERP system isn’t designed to give a custom experience to every business. They’re built to serve the needs of a wide range of businesses. They can’t possibly fit every company’s unique budgeting needs.
The result: These companies resort to time-consuming workarounds–often involving Excel. They pull budget data out of their system, and format it in Excel to fit their needs.
The problem: This process is not only time consuming, it’s dangerous. A single misclick in a spreadsheet can create errors in your numbers. Errors made in spreadsheets regularly create massive losses for businesses across the globe.
So, what’s the answer? If your ERP system doesn’t meet your budgeting needs, and Excel-based workarounds are risky…what can you do?
Here’s a great example of a company that solved this very problem. Their ERP system didn’t provide the budgeting capabilities they required, which led to time-consuming workarounds. What did they do? They fixed the problem, transforming a month-long budgeting process into on-demand applications. Executives can now access custom budgets whenever they need.
To learn how they delivered custom budgeting over their ERP system, you can read the story here.