Better Budgeting with Cloud Accounting

Aside from a lack of quality data, other problems with budgets can affect the entire organisation in a variety of ways.

Managers run the risk of focusing so hard on keeping within budgets, focus is diverted away from other key areas like customer satisfaction.

Changes in circumstances can suddenly make targets seem out of reach, with the danger of staff losing motivation – particularly if hitting target equals a bonus or commission!

Setting a budget too low can also pose a problem; for example, not striving to go above a sales target if it’s easily achieved or developing a culture of ‘use-it-or-lose-it’ when spending is below the budget towards the end of the period.

Best-in-class cloud accounting software Sage Intacct delivers real-time visibility into performance and on-demand reporting at a granular level – improving live tracking of budgets vs actuals, helping businesses keep their budgets on track.

The budget you set will only be as good as the data you’re using to set it, so having access to reliable, accurate and timely data is essential to setting an effective and realistic budget.

True cloud financial management system Sage Intacct displays data via permission-based dashboards, in a customisable format combining graphs, charts and easy-to-view layouts.

Intacct’s powerful real-time reporting capabilities are unmatched when it comes to on-demand reporting by whatever dimension you need; report by location, time period, customer, project or your chosen criteria all via an internet-connected device.

The ability to track a budget against actual performance in real time is vital, granting you the opportunity to adjust or tweak plans as and when necessary.

Intelligent, intuitive technology like Artificial Intelligence (AI) and Machine Learning (ML) powers Sage Intacct, enabling users to predict likely financial outcomes based on trends and use scenario-modelling options for more efficient, impactful forecasting.