Foresight Budgeting Complex solution of tasks for automation of planning and budgeting processes

Foresight Budgeting

Complex solution of tasks for automation of planning and budgeting in companies and enterprises that are sector-specific and complex in organization

Capabilities of the implemented solution

Less labor intensity and reduced time of preparation, approval and confirmation of budget, reporting

Improved transparency and availability of budget data

Compatibility and consistency of budget indicators on all budget model levels

Increased financial discipline, personal manager responsibility for budget planning results

The solution is aimed at

Setting up budget models, processes and budgeting regulations
Creating and approval of plans and budgets
Comparing plan and budget projects
Planning of operation, financial and investment activities
Preparing company’s main budgets
Consolidating budgets with elimination of inter-company transactions
Allocating budget purposes and limits
Building reports for plan and budget implementation
Analysis of plan and budget indicator data

Competitive advantages

The product is based on a multidimensional data model and Foresight Analytics Platform BI tools providing advanced reporting capabilities
Low cost of the system developed on the base of the Foresight Bugeting via preconfigured options and flexible built-in solution features to modify functionalities (MDM, indicator sets, algorithms, data entry forms and reports) without programming (by users, IT specialists)
Built-in mechanisms for setting up business processes and data approval routes (using budget model objects: indicators, forms, algorithms)
Open algorithms for calculation of budget model indicators with visual customization without programming
The product is included into the Unified Register of the Russian programs for Computers and Databases
User-friendly, ergonomic and intuitive interface

Architecture Overview

Functionalities

Setting organization structure and responsibility centers
Working with analytical slices of budget model
Working with indicators of budget model
Defining budget structure and budget form contents
Defining planning versions
Setting up custom budget forms (tables, cards, multisheets)
Setting up indicator calculation algorithms
Setting up indicator aggregation and consolidation rules
Setting up indicator allocation rules
Setting up algorithms for logic and arithmetic control of indicator values
Setting up integration adapters to third-party applications
Setting up rules of mapping primary actual data to operation budgets
Setting up drill-down rules from budgets by group up to the company level

Setting up budget process structure and contents (hierarchical process tree)
Setting up standard actions within a process (data entry, data load, calculation of indicators, approval, custom actions)
Setting up group actions/subprocesses (calling actions /subprocesses for a group of parameters, for example: by all subsidiaries and affiliates)
Setting up process managers and action owners
Setting up authorization objects (data sets with parameters)
Starting processes and execution monitoring
Setting up execution conditions and stopping processes and actions
Settings up user notifications about process and actions execution
Setting up scheduled process execution
Setting up time parameters of process and action execution

Building operation budgets
Building primary budget applications registry
Building budget responsibility centers
Calculating activity based cost (ABC)
Building actual indicators of operation budgets based on configured rules of mapping primary actual data into budgets
Building reports for budget implementation
Accounting and revision of inter-company transactions
Building consolidated budgets with elimination of inter-company transactions
Setting limits for budget indicators and setting up limit allocation rules by group companies (top-to-bottom budgeting)
Data drill-down from budgets by group up to the company level
Creating performance indicators
Analytical reports and dashboards by indicators

Helpdesk Support

Our specialists provide comprehensive technical support concerning all software product use to our customers and partners. To effectively and successfully work with our solutions, use various helpdesk support services.

About Developer

Foresight is a Russian vendor and developer of innovative digital analytics platform, Platform-based products, mobile platform for creating secure mobile business application.

Currently, there are platform-based analytical systems used by customers in 70 countries to increase management efficiency and search of new business growth trends.

We develop standard BI solutions allowing corporate, government and banking companies to successfully solve analytical tasks.

Foresight Budgeting Complex solution of tasks for automation of planning and budgeting processes