Planning Beyond Enterprise

In the wake of recent accounting scandals and emerging national and international regulations, the requirements on financial planning have grown exponentially.

Traditional spreadsheet-based budgeting systems, however, cannot handle these new requirements. In order to outperform your competitors and obtain the necessary transparency for compliance, your company needs a sophisticated solution that automates the complex financial rules and processes to consolidate detailed budgets on operational, corporate as well as group levels.

According to BARC, over 82% of companies do not use an appropriate tool for budgeting processes. In the vast majority of cases, spreadsheets prevail.

Given the roll call of issues found in our Excel survey, it is no wonder that BARC also found that more than 44% of companies do not have a structured approach to their financial planning process, and that over 30% of companies experienced problems connecting their strategic planning process with their operational budgets.

BARC Study

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Tagetik CPM unifies the processes of planning, budgeting and forecasting as part of a holistic approach to managing business performance.

As a result, you can easily translate strategy into operations, see how potential sales, production or price changes could affect your bottom line, and achieve the necessary transparency and flexibility to comply with changing regulations.

Budgeting, Planning & Forecasting Table Image

Tagetik CPM allows companies to adopt an Enterprise wide approach to budgeting and planning that unifies financial and operational budgeting and planning in one solution.

Translate Strategic Plans into day-to-day operations

Tagetik CPM provides a single solution for all planning and budgeting needs throughout your organisation. You can quickly allocate financial targets for the entire Group to company and operational levels in a top-down approach.

Go with the flow through powerful forecasting

In order to seize opportunities and minimise risks, successful organisations constantly monitor their markets and respond to change by reorganising their planned resources. Tagetik CPM supports powerful forecasting and modeling through a driver-based approach to planning.

Manage multiple budgets

For most companies, managing multiple budget versions is a manual, time-consuming process. Tagetik CPM minimises human error by unifying all operational, corporate and group budgeting processes into a single application. Following the built-in workflow, budget owners can collect, approve and certify data for each area of the enterprise and pass it on to the next highest level.

Ensure transparency and compliance

Tagetik CPM uses built-in audit trails to document who added or modified what, when and where. This functionality ensures maximum transparency, so your executives can validate financial statements with confidence.

Unify planning with reporting and closing processes

Tagetik CPM unifies planning with other key CPM processes, such that organisations can seamlessly consolidate the budget data to generate management reports for internal decision support. Through the closing process, they can also match and reconcile intercompany postings and create P&L statements, balance sheets and cash flow statements based on budget and historical data to disclose accurate financial forecasts to the public.

Tagetik CPM allows companies to complete the Corporate Performance Management cycle. This results in shorter planning processes, easier preparation of budgets and forecasts, and a low total cost of ownership

Tagetik CMP

For more information about budgeting, planning and forecasting with Tagetik CPM, please reference the available whitepapers and brochure. Download here...