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The data gathering aspects of budgeting and variance reporting
often require an inordinate level of effort, leaving little time
for analysis. This means that each budget or reforecast iteration
becomes a painful, expensive and error-prone process. The sheer
effort involved in orchestrating these processes often means that
the number of iterations performed must be arbitrarily limited,
leading to unacceptable compromises.
FMW Web provides an effective and user-friendly interface
to both financial and non-financial users of the system, meaning
that it is easy for users to develop budgets, plans and forecasts,
and to get up-to-date variance and management reports. Since all
users update a central database, as many budget iterations as required
can be performed, which are all updated and consolidated in real-time,
eliminating the need to consolidate and re-consolidate input from
multiple sources.
Full control over these processes is provided to the central budget
administrators (usually the finance branch personnel) through tools
such as a sophisticated security manager, multi-level workflow and full audit trails for
every financial or statistical number changed in the system.
Finally, financial managers can utilize the powerful, fully integrated
and non-technical report generator to roll-up and explore any data
in the system from any angle required. Our typical customer has
hundreds of reports generated with this tool, with no assistance
required from Information Systems personnel. In addition, the extensible
and industry standard architecture of FMW Web means that,
if required, third party reporting and analysis tools can be easily
integrated into the FMW database, as well as complex business logic
specific to the organization.
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