Organisations today face tremendous challenges with their budgeting and forecasting processes. Centralised processes lack credibility with business stakeholders, whereas distributed and collaborative processes take too long to produce meaningful and actionable results. In addition, the models used are frequently inconsistent and complex, making it almost impossible to test alternative assumptions.
"It seems to me that there are three key questions that organisations are asking at the present time concerning these issues," commented Ryan Bernard, Partner at MCI Consultants.
"They are:
* Does your organisation have accurate, reliable budgets to help you make key planning decisions?
* Does your budgeting process extend beyond finance to involve stakeholders throughout the organisation?
* Are you able to quickly and easily re-forecast during the year, or test alternative scenarios?
"MCI Consultants is an expert in the field of implementing automated, collaborative budgeting and forecasting solutions using IBM Cognos Express software," continued Bernard. "Our experience in this field stretches back over 15 years and we have a number of clients that are successfully exploiting the software in this way.
"In essence, we are helping organisations to:
* Facilitate collaborative budgeting and forecasting with automated consolidation and cost allocations, which includes driving participation and stakeholder buy-in to those budgets.
* Develop highly accurate forecasts using underlying business drivers that include the flexibility to easily adjust the plan based on changes in any underlying assumptions.
* Improve transparency and auditability of their processes with secure, centralised data and calculation models.
* Shorten their planning cycles with automated workflow, thus freeing up time for analysis.
* Painlessly integrate their financial systems for comprehensive `actual to plan` variance reporting," concluded Bernard.
For further information, please contact Ryan Bernard, MCI: tel 011 454-3420, fax 011 454-3417, e-mail r.bernard@mci.co.za.
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MCI Consultants
MCI Consultants is a South African-based business information systems consulting firm specialising in providing software solutions to the business community, specifically to the financial services and personnel recruitment industries.
MCI offers a complete solution, including network and communications services, business performance management solutions and accounting systems. MCI also provides bespoke developments, including software for the JSE Stock Brokers, including Trading and Portfolio systems that also incorporate e-commerce and mobile technologies.
Its approach is to continuously provide solutions to meet its clients` changing requirements. It prides itself in delivering excellent customer service and building long-lasting partnerships with its clients.
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