Real life CFO Challenges Topic 2: Forecasting & Budgeting Control


Real Life CFO Challenges Topic 2: Forecasting & Budgeting Control

Meet Tracey: CFO of a fast growing business.challenge-2-persona.png

As a CFO, Tracey needs create reliable forecasts, perform role modelling and simulate different scenarios to allow her company to plan and prepare realistic budgets. However, using standard MS Excel to report and forecast made the process difficult to control.

In post #2 of the Real Life CFO Challenges series, we will uncover strategies to overcome Tracey's forecasting & budgeting control challenges.

Tracey's Challenges: 
  • No real-time visibility into data and historical information using standard MS Excel
  • Unable to create reliable forecasts

Tracey's Requirement: 
  • A cost efficient budget and forecasting solution that is easy to manage and report
  • Informed business decision making
  • Budget control
  • Multiple budget versions
  • Cost centre approvals and authority

The Solution:


  • Tracey used a powerful, flexible tool that incorporates key financial and operational data that can deliver critical strategic information. Allowing the potential impact of external factors in the budgeting and forecasting process. 
  • This solution can adapt to your specific needs by allowing heads of departments to make their own decisions based on last year’s performances and other future analysis. Keeping original budgets in tack while still providing key staff to perform changes if needed. 
  • This solution empowered Tracey to get regular management feedback and critical information should things change in her organisation. Keeping costs down and people responsible and accountable for their cost centres. Allowing the HOD direct visibility into each department’s financial performance thus allowing better decision making and controls.

The Benefits:

  • Guarantees accuracy of information due to controls and formulae
  • One central point of data collection
  • Centralised reporting and budgeting visibility
  • Web / Mobile access to monitor information on the go
  • 360 degree view of your departmental performance and forecasts
  • Elimination of human error in data input
  • Better strategic decision making in the budget process
  • Strengthening strategic planning measures and policies.
  • Enables progressive company growth

Want to find out more about the right forecasting and budgeting solution for you? Talk to one of our ERP consultants today.

We understand your organisation is unique. Your technology should match your business processes - your unique way of doing things. We help your organisation perform better by designing and developing the solutions that work for you - all delivered on time, within budget and with faster time to benefit. With offices in Sydney, Melbourne, Brisbane, Perth and with over 50 Awards received from Microsoft, SAP, Sage and Accellos, MicroChannel has outstanding credentials as one of the most respected solution providers in Australia.

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