Budget Tracking
Budget Tracking Overview
The budget sub-system is a powerful decision management support tool. It allows a user to set up a Management Dashboard viewable on the welome screen.
The system is designed to take the final rendition of the budgets developed internally and in real-time track expenditures against plan. The user may choose to view the performance of Budget vs. Actuals at the company, region, country, location or G/L account level.
A variety of graphs can be presented showing a graphical depiction of the Budget vs. Actuals. An alert is presented when a budget has been exceeded. The user can drill down to an over-view showing the Budgeted, Projected Actuals and Actuals. From there the user can drill down to the account that has been flagged. The user can drill down one more level to see all the PO's corresponding to that G/L account to identify why the budget was exceeded.
In conjunction with this capability, a customer parameter can be set for all SR's to be matched to the available budget during the approval routing time. The approvers can choose to override the over-budget indicator, but the big payoff to the business is all approvers are aware a change action is being taken to spend funds that have not been allocated.
There is significant value in the process for those users concerned with the cash flow required for future months. They can use this feature to predict the need for movement of money into different countries or locations.
Budget Tracking System Features:
- There are three methods for expense tracking:
- Passive Tracking - no budgets are loaded; the expenses by company, region, country, location or G/L account level without any controls
- Active Tracking - the budgets are loaded and dashboard charts are created to track expenditures against plan; the system will notify you of potential overages
- Active Expense Control - after the budgets are loaded you have all the capabilities of Active Tracking; however any Spend Requests which will cause an over-budget situation will require an approval override at all levels to ensure the overage is well communicated
- Multiple 2D and 3D graphs are available
- At any point when Active Tracking is turned on, the user may drill down to the details to perform forensic analysis on why an overage occurred
Print This Page
Request a sales person to follow up
Learn more about:
RFQs
Contract Management
Service Orders
Budget Tracking
Asset Management
Accounting Reconciliation
Reporting & Analytics
Change Order Processing
