Budgeting

Planning & Budgeting

Easy to use, and significantly reduces the time required to create a consolidated plan!

The budgeting system represents an integrated modern practice of financial management. Included are budget planning options, scenario simulations, insight into budget deviations (total, position above def. amount...), forecasts of future periods... An additional convenience is the automatic generation of predefined notifications, depending on the position, authority and subject of interest.

The budgeting process can be carried out based on the distribution of the financial plan, at the level of: companies (multicompany system), profit centers, cost carriers, cost centers, special organizational units, but also projects (portfolios), brands…

Tradiotional budgeting process

Most organizations base their planning and budgeting on the traditional principle of using Excel tables. Characteristic of this way of working is that usual planning and budgeting takes weeks, up to several months in large organizations. 

Planners spend time on numerous Excel versions of documents. In practice, time is wasted on determining the latest version, and it happens that there is no centralized storage of planning documents. This principle of planning lasts a long time and just when everything is agreed, it happens that then the plans are outdated and the process is repeated.

Odoo Budget is a software solution that makes a qualitative shift in the process of company planning, simplifying and speeding up this complex business process.

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Plan consolidation

After submitting all the plans, they need to be consolidated into the main master plan. The consolidation process is usually laborious, many problems appear: incorrectly and incompletely filled excel tables, incorrect formulas, waiting for the individual delivery of the plan, manual rewriting of part of the data etc. 

This way of organizing the planning process is especially problematic when the "final" plan of the organization is made and when changes are requested, which again require repeating the entire process!

Odoo Budget enables the creation of a central planning model, in which plans are automatically consolidated. It is estimated that the time required for planning is reduced by up to 70%. This system provides the possibility of creating budget simulation scenarios from different angles, which can make a special contribution to the quality of business decisions.