The historical budgeting process is gradually giving way to ongoing rolling forecasts. Annual budgets suffer from many drawbacks – lack of timeliness, objectivity and accuracy are only some of the issues. However, for organizations wishing to move to real-time rolling forecasts, the move can be very challenging.
EFI´s budget module allows enterprises to start with a budgeting process that is familiar and gradually transitions to rolling forecasts. The process is achieved using the built-in workflow schedules to manage employee participation.
EFI´s budget module allows enterprises to create a comprehensive budget plan that includes all factors and relevant data, such as sales, multiple revenue recognition methods, production, inventory, expenses, manpower planning, fixed assets planning, and many more. The budget module, with its strong components, provides a full and accurate planning picture.