Budgeting and Forecasting Features
Automatic Consolidation of Data
With spreadsheet budgeting and forecasting, a great deal of time is spent collecting data from budget managers and pulling the data together in various formats for review and analysis. In PowerPlan, data is consolidated automatically, based on predefined rollup structures. Review consolidated results organization-wide by funds, divisions, departments, locations, projects, grants or any relevant element.
Create revenue and expense budgets based on the parameters that drive your programs. PowerPlan provides for an unlimited number of user defined “driver” accounts to fit the needs of budget or program managers. Driver accounts provide for input based on pertinent assumptions such as clients served, billable days, rate per day, tuition rates, projected event attendance, and indirect cost rates. Actual data integrated into PowerPlan for driver accounts provides valuable access to historical trends and variance analysis of non-financial and financial data.
PowerPlan provides simple, wizard driven templates, enabling overhead allocations to be set up in just minutes without the need to work with complex formulas found in other solutions. Allocate administrative costs across departments or programs based on financial elements such as revenues, expenses, or based on driver accounts such as FTE, square footage, or any other user-defined account as your basis. Payroll based accounts such as FTE are integrated with staff budgeting in PowerPlan. As you change your staff allocations, the basis for your overhead allocations will also be updated.
Scenario Based Budgeting
PowerPlan provides for an unlimited number of budget scenarios to facilitate performing various ‘what-if’ conditions and analyzing the results of each. Each scenario provides optional settings to support a budget or forecast template while security settings allow further options to hide scenarios by user group. Copy all contents from prior actual data or a previous budget version, use projection tools to define global assumptions, and make budget entries and changes from a bottom up or a top-down approach. Scenarios are tightly controlled in the budgeting and forecasting process through workflow tracking of budget submissions and approvals.
Security / Workflow and Audit Trail Functionality
PowerPlan’s audit trail functionality has been designed to log all the changes to the configuration of the PowerPlan environment as well as track all data related changes. PowerPlan also includes inherent flexible workflow functionality which serves as a collaborative tool and allows everyone involved in the budgeting process to understand and work with the applicable budget stages and transitions.
Budget in Multiple Currencies
For organizations with offices working in multiple currencies, budget managers no longer have to do manual conversions before submitting budgets or analyzing reports. PowerPlan budgeting supports multiple currencies, enabling budget managers to work in the native currency. Submit budgets and review reports in the local currency or view organization-wide rollups in the master currency.