Advantages of integrating your financial planning with business intelligence
Why should you integrate your budget and forecast process with follow-up and analysis? We here at Planacy love the modern business intelligence platforms and believe that many companies should implement one to be able to analyze their business in detail and get maximum value from their data.
If you already have a modern business intelligence tool, you have a platform with powerful features that support your work with follow-up and analysis. And when you’ve already built a data model with relevant information and a dimensional structure with the most important key numbers and analysis objects for your business, why not use this investment for your work with budgeting and forecasting as well?
Take advantage of your investment
By integrating your planning process with follow-up and analysis in a BI-platform you are taking advantage of your already made investment by reusing the data model and analysis applications. You get a platform for budget, forecast and planning that mirror your BI platform and thus, gives you a more cohesive solution which simplifies data-driven, continuous work with financial planning. In addition, you’ll reduce the implementation time at the same time as the administration becomes smoother since you only need to maintain one single data model in the future.
If you don’t have a BI system in place but are still looking to invest in a platform for budget and forecasting, Planacy will of course work just as well without a BI system. Planacy also offer seamless integrations to Excel so you can take full advantage of your current management report and work with traditional analyzes of budgets and forecasts in Excel. If you’d like to integrate with a BI-system in retrospect to get a more unified solution – where all the separate components give you a higher return of investment – that is easily done.
Please feel free to get in touch with me or one of my colleagues and we’ll tell you more about how we work with budget, forecast, planning and follow-up and analysis.