TM1 Financial Planning & Analysis

The Burdens of Financial Planning and Analysis

Companies of all sizes must plan for the future and continually measure their performance against those plans. This process is essential, yet is often a burden to users who are asked to contribute departmental expenditures and revenue projections.

If data inconsistencies and inaccuracies run rampant through the user-submitted projections, though, then the leaders who are responsible for compiling and comparing all user projections to actual performance metrics can’t do their jobs efficiently. TM1 Financial Planning and Analysis -min

More time may be spent simply managing data rather than using it to pinpoint and quickly address financial or performance problems. Even changes in the marketplace can’t readily be detected.

How a Financial Planning System Helps

The core financial analytics applications that an enterprise needs include:

A Financial Planning system uses a consistent structure and workflow to model the entire business and support complex reporting requirements.

Predict and Solve Problems before They Arise

Financial models can be built in a Financial Planning system in order to capture and understand unique relationships that drive the business. If demand spikes, for instance, what impact will it have on inventory levels in subsequent months? Financial models allow you to run what-if scenarios to simulate different courses of action and solve answers to problems before they arise. These are prediction models at their finest.

The best Financial Planning solution is one that can grow and evolve with your company.

Features of QueBIT’s Financial Planning and Analysis Solution:

  • Budgeting and Forecasting
  • Departmental Expense Planning
  • Workforce Planning
  • Currency Translation
  • Workflow and Approval Process Management
  • Financial Analysis and Reporting (in Excel and via the web)
  • Department-level Security
  • On-premise or Cloud Implementations
  • Customized Documentation Packages
  • Administrative and End-user Training
  • Support

Optional Features:

  • Rolling forecasts
  • System support and reconciliation for top-down and bottom-up processes
  • Departmental allocations by line of business and products
  • Line of business and product profitability analysis
  • Advanced industry-specific financial modeling (Ex: premium planning for insurance, merchandise planning for retail, or recurring revenue projections for subscription-based models)
  • Integrated financial reporting and consolidation solutions using QueBIT ControlWORQ
  • Customized web user experience using QueBIT WebWORQ
  • Configurable automated Excel or PDF report distribution using QueBIT ReportWORQ
  • Integrated predictive demand planning
  • Integrated predictive assortment planning 

State-of-the-Art Financial Planning and Analysis

A Financial Planning system is one of the financial analytical applications that an enterprise needs in addition to financial consolidation, management, and statutory reporting.

Financial planning systems include:

  • Budgeting – The process by which an organization sets and measures its goals. Most companies do an annual budget before a new year begins.
  • Forecasting – The process by which the organization checks its progress against the budget as time passes. Goals are then updated for the remaining months of the year to reflect new realities in the business environment. Some companies forecast at monthly, quarterly, or less frequent intervals.
  • Financial Planning – A general term that encompasses both budgeting and forecasting as an integrated business exercise.

Access QueBIT’s Financial Planning and Analysis Brochure today!


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