Budget and Forecasting
Imagine easy-to-use spreadsheets combined with the performance of a relational database. Planning, budgeting, and forecasting have never been this simple or this complete. In what may be the best news for financial managers considering a new budgeting and planning solution, HCG Software's Prevision application costs far less than the typical Windows forms application or Web-based tool, and can be implemented faster. Implementation typically takes a few weeks or months, instead of months and years.
The HCG Prevision planning and budgeting module is extremely flexible. With HCG Prevision, budgets conform to a company's business practices, rather than the business having to conform to the software application. With HCG Prevision, budgets can be based not only on financial numbers and history, but also by non-financial drivers, including volumes, square footage, FTEs, and other key performance indicators. In fact, HCG Prevision is not limited to budgeting financial data - the application is capable of creating budgets for any kind of data a business needs to track, even things like headcount, parts, or activities.
Features include:
- A complete and flexible BI solution for all data elements required for a comprehensive plan including General Ledger, Payroll, and industry-specific data elements.
- HCG Prevision enables the user to specify either bottom-up planning, top-down planning, or a hybrid version of the two methods.
- No pre-mapping required. Prevision uses an organization's native department, cost center, account, and subaccount structures (including multidimensional modeling) to define dimensional requirements
- Fully integrated software application that shaves days and weeks off the schedule with functionality for sophisticated allocation requirements, currency conversions, inter-company eliminations, and automated multi-company consolidations.
- The Prevision user-defined Process Control Module enables users to automate and manage the individual department budget submission and approval process
- Unlimited scenario and versioning capabilities for all global assumptions, labor rates, tables, allocations, and departmental budgets. Also track changing comments made by budget managers down to the individual account level.
- User-defined time series.Prevision user s can plan for monthly G/L, bi-weekly payroll, and daily volume activity all in the same department.
- Links to 100 percent of ALL general ledger, payroll, and third-party systems, including SAP, Lawson, Meditech, McKesson, ADP, and Sage. Allows budget managers to view years of history while reviewing next year's forecast without ever rekeying data.
- Sophisticated industry-specific revenue models for hospitals, financial services, banks and thrift institutions, public sector, governmental agencies, retail, research and development groups, physician groups, hospitality, and dozens of other business units.
- Unlimited budgeting and forecasting methodologies for labor (by job code, by employee, or a hybrid mix), benefits, supplies, utilities, professional services, travel, and other expenses for fixed, variable, step-variable, and zero-based budgeting requirements.
- The ability to upload any data element from HCG Prevision to any other software application, with a single click of the mouse.