Like clockwork, the business budgeting and forecasting process comes along every year, and CFOs and budget managers struggle through it. Of which, data collection is one of the most taxing activities that plagues organizations, leaving lesser time for the actual planning, which is reflected in the productivity and accuracy of their budgets and forecasts.
Today’s businesses want to be agile; relying on predictions made months prior isn’t likely to help organizations reach their goals. Alongside this, many financial leaders are coming to the realization that they can improve the efficiency of what they do by upgrading the solutions they use for budgeting and forecasting. To that end, there has been an ongoing innovation in the applications and tools that budget managers use, in order to address the various business demands that the future brings. These include dynamic cloud solutions, device-agnostic mobility enablement, integration with real-time analytics, and predictive models. The market for cloud-based planning tools is growing because of its lower cost of ownership. This has enabled even middle-market companies to afford and deploy these sophisticated budgeting and forecasting processes.
The ability to harness all of this potential is how forward-thinking CFOs can thrive. In addition, assessing where they can add value to the organization so that these technologies act as a bridge between the old approaches of doing things and one that is more streamlined, collaborative, and most importantly, accurate is what will make them get to their budgeting goals faster.
In response to such needs and demands, we have reviewed many firms in the budgeting and forecasting landscape, and shortlisted the ones that are at the forefront of tackling the industry challenges. The listing provides a comprehensive overview of their promising software, and the ways in which it can help the businesses.
We present to you CFO Tech Outlook’s “Top 10 Budgeting and Forecasting Solution Providers - 2018.”