Metapraxis launches Budgeting Calculator for businesses
By Gloria Methri
By adopting a digitised and automated approach to delivering annual corporate budgets, FP&A departments improve the accuracy of budgeting and free up team members.
The Metapraxis Budgeting Calculator is available to access free of charge. It enables FP&A teams to understand the financial cost of a manual process versus adopting dedicated budgeting software for this complex and often long-drawn exercise.
“Enterprises routinely tell us about the relentless challenges they face with regard to creating annual budgets,” said Simon Bittlestone, CEO of Metapraxis. “Whilst spreadsheets are excellent tools and offer value to FP&A teams in a variety of use cases, for annual budgeting they make the process more complex, time-consuming, and error-prone, due to the sheer nature and scale of this business critical, multi-department activity. And yet, FP&A departments struggle to secure organisational buy-in to adopt automation. We have developed this Budgeting Calculator at the request of many customers, to help FP&A teams to make a convincing financial case for a move to automation.”
“To illustrate a hypothetical scenario using the Budgeting Calculator: An organisation comprising five business units, each with ten cost center owners, running an Excel-based manual budgeting process across revenue, cost, capex, and cash flows, before a group-wide consolidation process, incurs c. 372 days of effort versus 133 days if a budgeting application were used. The total cost saving of digital adoption would be c. $192,206 per year before any of the benefits of improved accuracy and better use of time are quantified.”
IBSi Daily News Analysis
March 01, 2024
Banking Sector and regulatory framework: addressing India’s growing demand for secure lockersRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage