What else could you do with the time you spend on budgeting?

Aberdeen Group’s Report on Automation – A Quick Summary

Stemming from the reality that finance professionals around the globe spend a considerable amount of time on budgeting, the Aberdeen Group sought to identify how Best-in-Class organizations across industries make their budgeting and planning processes more efficient.

In their report, Ensuring Timely and Accurate Financial Plans, Budgets, and Forecasts Through Automation, Aberdeen Group crystallizes precisely what forward-looking financial professionals have known for some time:

1 – Leading companies are automating their budgeting and planning processes;

2 – Automating budgets and planning processes increases efficiencies; and

3 – Automating budgets and planning processes has tangible benefits.

To paraphrase the report: automation reduces the time spent on planning and budgeting.

Here are some of the findings from the Aberdeen Report about what Best-in-Class organizations do to make their budgeting and planning processes more efficient. They:

 Automate Budgeting and Planning Processes

• 66% have planning, budgeting, and forecasting applications

Adopt Budgeting and Planning Processes Tools

• 44% have Performance Management Systems
• 70% have dashboards
• 78% have query and reporting tools

Achieve Benefits by Automating Budgeting and Planning Processes

• 82% see business units collaborating with finance throughout budgeting/planning
• 84% have departmental budgets that are aligned with overall business P&L statements
• 77% have the ability to integrate and align sales forecasts with business revenues and cost forecasts
• 94% have financial reports delivered when they are needed

See the complete Aberdeen Group report, Ensuring Timely and Accurate Financial Plans, Budgets, and Forecasts Through Automation for how Best-in-Class organizations make their budgeting processes more efficient…because you could do so much more if you reduced the time you spend on budgeting.