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Your Search for a Better Planning and Budgeting Solution for SAP is Over

insightsoftware -
August 25, 2022

insightsoftware is a global provider of reporting, analytics, and performance management solutions, empowering organizations to unlock business data and transform the way finance and data teams operate.

22 08 Blog Planningandbudgetingforsap Website

SAP is a great enterprise resource planning tool (ERP) that makes the many aspects of running your business easier. From storing HR records to billing account information to product inventory and pricing data, it’s incredibly convenient to have all your business data housed in one place, rather than spread across multiple systems that may or may not be compatible with one another.

The thing is, while having all your data in one system may be convenient, accessing and interpreting that data for budgeting and planning purposes can still be a challenge. Due to the complexity of SAP data structures, you often need assistance from your IT team to pull reports, a time-consuming process that leads to long planning cycles, localized documents, and inefficient coordination across departments. In short, you’re probably left thinking, ‘there has to be a better way.’

There is.

Bizview is an integrated, web-based budgeting, planning, and forecasting solution that works seamlessly with SAP to increase cadences, foster collaboration, and simplify processes to drive smarter decisions from more accurate data.

Shorter Planning Cycles

You’re well aware of how long manual spreadsheet-based planning processes take and how difficult they can be to control. Working with multiple versions of static spreadsheets can lead to inconsistencies in your data that increase the difficulty of making informed business decisions.

With Bizview’s intuitive web-based, spreadsheet-like interface, you will enjoy a faster, more cohesive planning process. Gain immediate insight from a single source of truth with access to up-to-date data at any time, and on any device. Create standardized budgeting, forecasting, and planning forms for a cohesive and repeatable planning process that easily updates to reflect changes in your ERP system, while maintaining a full audit trail.

Better Collaboration

With manual planning processes, collaboration can be tricky. Often, planning is fragmented and siloed across departments, leading to inefficient communication, increased copy and paste errors, and delayed output.

Bizview lets you break down silos and defragment your planning process by creating a more transparent process. Align your team and shorten budgeting cycles by taking control of budget entries and approvals using powerful workflows and automated, coordinated email notifications that deploy relevant information to the right people at the right time. Streamline communications by making comments directly in planning forms. Sophisticated data access rules and a full audit-trail of changes ensure adherence to governance and compliance needs.

More Accurate Data-Based Decision Making

It is the dream of every finance and planning team to model and test several scenarios in every planning cycle, allowing them to prepare for any eventuality. This was highlighted in a recent insightsoftware report that found 41 percent of finance team leaders considered strategic decision making to be a priority in 2022, compared to 29 percent in 2021. The reasons for the uptick are clear. Finance is now firmly seated at the strategy table within organizations, as leadership looks to financial data to inform key strategy questions. That reality is further confirmed by the 42 percent of respondents who listed “enabling the organization to make flexible and timely decisions” as a top priority.

However, as you’ve probably noticed, manual spreadsheet-based planning processes are time-consuming and inflexible. You don’t have the time or opportunity to run multiple test scenarios, so you make educated-guess decisions based on the limited financial insight your data provides and hope for the best.

The time savings you get from implementing Bizview will allow you to continuously monitor and reforecast throughout the year. Your users will login and enter their information, and with a single click the system will automatically update forecast figures. You can customize your planning forms to meet your specific needs, giving you more reliable numbers and better decision-making capabilities. You will finally have the flexibility to model and test potential scenarios, plus change existing models on the fly to adapt to your changing business needs.

2022 Finance Teams Trends Report

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Beyond Manual Planning Processes

There are more benefits to implementing Bizview than just the efficiency it adds to your planning process. It fully integrates with SAP to get you up and running quickly. But you can also connect Bizview to non-ERP data sources. This allows you to integrate all relevant financial and non-financial information into your planning process and get a more holistic view of your data landscape. , See the big picture and build forecasts that guide your business to a more promising future.

Bizview will be there for you as your business grows, helping you scale processes as you add products, entities, planning areas, personnel, and more. Bizview allows you to adapt and scale with integrated workflows, analytics, and dashboards. Its web-based, mobile-friendly interface supports large numbers of users and is ideal for growing companies.

It’s Time for Something Better

As the foundation of your business’s financial processes, budgeting and planning are vitally important. You can’t run a successful business if you don’t have a clear picture of your resources and how they impact your goals over time. And while you can use the native tools in SAP to do your budgeting and planning, it will take you longer and the results may not be optimal. With Bizview you will be able to increase your planning cadences, collaborate better, and make smarter decisions that help grow your business.

Are you ready for something better? Request a demo today.

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