Budget Tracking Module
Achieve efficiency through accuracy
Aspekt Product Suite has possibility for automated measuring of planned vs archived results within specialized engine supported by the Budget Tracking Module. The module represents valuable tool for accurate performance forecast and supports the core accounting processes, through efficient tracking of periodic budgeting plans, based on Client’s Chart of Account.
Within the module, periodic budgets can be generated with streamlined specification of revenues and expenses for the next period. Budgeting periods can be defined on monthly, quarterly, semi-annually and yearly basis.
The budget plans are governed by automated approval workflow, with predefined budget statuses and option for automated budgets rollback in the previous status. The workflow of every budget and the performed changes are automatically tracked in budget history.
The revenues and expenses accounts can be dynamically defined and managed from user side, with possibility for specification of additional account dimensions according to which to track performance rates, using indicators needed based on Client needs.
Comparisons of planned with achieved results can be accurately performed in predefined, structured reports for analysis or new reports can be dynamically defined with the Dynamic Report Generator (DRG), based on Client-specific parameters.
- Better Performance Review
Improve your performance across operational divisions and planning accuracy with streamlined tracking of financial figures in the system and better performance visibility in real time comparative reports.
- Improved Control Over Budgeting
Centralize your budget information on one place and integrate it with the other financial data in General Ledger in order to make better business decisions and gather financial inputs in a timely manner.
- Flexible Approval Process
Adapt the budget approval workflow according to your existing business processes and be able to manage your budgets more flexibly.