Financial Planning
- The Challenge: Inefficient financial planning processes and tools
- Crown Solution: Web-based financial planning toolset
- Business Benefits: Centralized financial planning, streamlined processes
The Challenge
For the typical business, planning is a constricting and hierarchical process:
- Goals and budgets are determined at the top of the organization and flow downward
- Plans to reach the goals are formed on a department level and rolled up
This often creates a game of ‘ping pong’ that can take months to resolve. Worse yet, the outcome rarely reflects the dynamic reality of business.
As much as 40 percent of businesses are entirely reliant on spreadsheets for planning, budgeting, and forecasting. Though spreadsheets are powerful personal productivity tools, they limit an effective planning strategy. Spreadsheets lack a multidimensional perspective, specialized planning functionality, the ability to maintain complex formulas, and a method for consolidating plans and reports from individual spreadsheets across business units. Thus, spreadsheets alone can't support all of your financial planning activities. You need automation and collaboration for a complete solution.
Crown Solution
Crown uses a centralized, web-based toolset to deliver an enterprise solution for budgeting, forecasting, and planning activities. The Financial Planning solution enables real-time interaction with audits, controls, workflow management, and business-based rules. You can easily customize these to incorporate your company's unique business requirements. And you can configure Financial Planning to handle top-down and bottom-up planning. With the Crown solution, you'll have a comprehensive view into business operations and its related impact on financials. You'll also get streamlined budgeting and planning, with the necessary governance to ensure accuracy.
Business Benefits
Crown's enterprise performance management solutions improve business performance by delivering unparalleled insight into your business-critical information. Crown's solutions can help you improve productivity, decrease operational costs, and mitigate compliance risk. In particular, Financial Planning allows you to:
- Ensure accuracy – Validate your forecasts with integrated analytics
- Decrease budgeting time – Reduce cycles by weeks or months
- Centralize your organizational planning – Harness the power of integrated planning in one system
- Address finance needs quickly – Meet your finance needs while enabling operations-specific budgeting processes
- Maximize modeling capabilities – Support advanced, power-user modeling capabilities with nearly seamless Microsoft Excel integration
- Gain mass user acceptance – Appeal to a wide user base through a simple web interface
- Decrease implementation time – Quickly deploy packaged planning modules