Key Features

• Separate Operating and Capital budget Templates.
• Detailed line item information; Description / Extended Description, Unit, Quantity, Amount Tax Tables, Freight Tables, Categorization tied to GL Codes; Vendor info including Description, Model, Model Number; Automatic Cash Flow; and Pre-configured Line Item Groupings.
• Extensive administrative capabilities with formulas and tables for line items.
• Budgets can be top down or bottom up.
• Project cost tracking by budget or across budgets.
• Budget linking splits costs between budgets
• Import / Export data from Excel and other programs.
• Internal messaging capability for audit history.
• Attach files to budgets and projects for planning documentation.
• Automated budget approval and roll-up with version control that automaticallyadjusts for organizational changes.
• Create purchase / new hire requisitions from approved budgets.
• Flags off or over budget line items.
• Database system allows for unlimited reporting capabilities.
• Custom or standard financial reports created by management or user.
• Reporting of one budget or any combination of budgets.
• Ratio analysis of key budget indicators.
• Secure system eliminating the risk of spreadsheets being disseminated improperly.
• Integration to financial systems / ERP applications.
• Make budget adjustments / re-forecasts monthly or quarterly.

Benefits

Planning and Budget

• Reduce budget cycles with easy to use, intuitive, distributed architecture resulting in positive ROI on system purchase.
• Increase efficiency and accuracy in the way information is gathered minimizing the budget cycle time and eliminating the spreadsheet nightmare.
• Centralized, automated system that enables you to reduce head count requirements for the administration of the budgeting process.
• Know project costs and profitability instantly across departments.
• Provides status of projects; will they be on time and budget, affecting other departments such as production, sales and marketing.
• During changing market conditions TABS enables you to analyze the impact of continuing to fund current projects, which projects to reduce funding or which projects to cancel and the impact of those decisions.
• Manages the cost of labor, both internal and contract, to reduce costs and improve productivity.
• Budget analysis can occur at any point; project, budget center, department, or the entire company.
• Maximize volume purchase agreements and discounts with vendors.
• Does not change current budget or purchasing process ensuring quick implementation.
• Track capital budgets over unlimited number of budget periods.

Execution / Expense Control

• Ensures proper accounting and financial controls on expenditures.
• Give managers data needed to confidently approve funds for projects with a positive ROI.
• Eliminate over-spending prior to numbers going into the red.
• Manage costs across multiple budget centers.
• Purchasing function ensures user acceptance.
• Enables you to detect and eliminate fraudulent purchases.

Results

• Manage the disparities between budgeted monies, actual expenditures and corporate financial statements.
• Maximize your internal and contract labor costs.
• Determine if equipment was in-service for financial depreciation and tax purposes.
• Compares budgeted to actual expenditures ensuring funds are available for current purchases; or ensuring current dollars are not held for purchases that will actually be made in future periods.
• Know how to react to market changes.
• Visibility into enterprise financials and performance eliminates or reduces any forecasting "surprises".
• Enable users to know whether to make additional purchases for vendor rebates based on budgeted need in following budget periods.
• Manage cash flow / the cost of money.
• Provides status of projects: will they be on time and budget, affecting other departments such as production, sales and marketing.
• Make quick market decisions based on accurate real time data.

Performance

• Establishes a new performance management climate where decision power and information is made available to front line managers.
• Achieve a consistent view of enterprise financial data to improve financial data accuracy and provide the basis for effective decisions.
• Links budgeting to purchasing and internal financial systems, including the purchasing processes
• Easy implementation resulting in costs a fraction of other solutions
• Enables users to monitor key financial objectives and control spending prior to dollars being spent Improved data analysis to business units
• TABS enables senior management to distribute performance responsibility to operating managers and enables them the freedom & tools to make key decisions based on local considerations and company objectives.
• Manages volume purchase agreements, allowing you to take advantage of fire sale opportunities and negotiate best pricing by aggregating planned purchases company wide.
• Reallocate monies or personnel based on specific project situation.
• Verify the accuracy of your current financial systems.
• Manage mergers and acquisitions by quickly integrating different budget / tracking systems.

Compliance

• Provides a control framework, as oftentimes this process is not well documented, inconsistent and not measurable.
• Provides detailed information for financial audits.
• Unprecedented audit trail information gathered and archived within each budget for up to five years.
• Visibility into existing internal controls and their effectiveness which address the disclosure controls mandated by Sarbanes-Oxley.
• Track all past expenses and proposed expenses for tax and audit purposes.