Good budgeting tool?

pts.
Tags:
Budgeting
Business/IT alignment
ERP
ROI & cost justification
Can you recommend a good budgeting tool? I am looking for a tool for our organisation (University), in order to streamline the process (i.e. capturing data, consolidating data, ease of reconcilaition to SAP data/reports, etc). We're running SAP R/3 FI, CO, FM etc. Also, we do zero-based budgets. Any ideas from past experience on an effective budgeting solution - is the best way - input data onto Excel and load to SAP? or any other advice you may have would be appreciated. Many thanks Delfina

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My previous experience is that if you want department heads (or similar) entering the budget data, and the budgeting tool is to be used across your entire organisation, (University) then management of Excel workbooks/spreadshets becomes quite painful.

I would look at installing the SAP Financial Analytics module and just start by configuring / using the budget pieces and if that isn’t palatable, look at Hyperion as a 3rd party application.

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  • Toyonal
    Years ago I worked for Hyperion Software and sold Stanford University a budgeting product that worked very well. It, at the time, was called Pillar Budgeting. Their original selection criteria was, frankly, ill-conceived and fortunately they were open minded enough to reorient their thinking to understand how budgeting is actually done in a university setting. I would suggest you look at Hyperion's offering.
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  • Madkahuna
    I have a client that is running Acteon for their budgeting needs and they love it. It is easy to use and maintain according to my client.
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  • Learner40
    You may evaluate Hyperion and Cognos. But in my experience Excel overrides all tools. At the end of the day you find a way of putting the numbers back into Excel and crunching them there!
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  • Rcsekar
    I agree with the view that Excel is a good tool. Spreadsheets are more flexible to work wtih.
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  • Hughfawcett
    If you are a SAP shop I'd go for either:- SEM BPS (Business Planning & Simulation). If you have BW (Business Warehouse) Version 3.5 this is part of the product. Otherwise you will need to buy SEM licenses.
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