Advanced Business Solutions (Advanced) today announces the launch of Collaborative Planning version 8. The latest version of the software company’s budgeting and forecasting system helps organizations to further increase the accuracy and strategic value of their financial plans.
Leading industry analyst firms, such as Gartner, suggest that traditional budgeting and forecasting solutions are restrictive. This is due to finance teams needing greater flexibility to access several separate data sets to support periodic planning with more detail. Making financial data available on a daily, hourly or real-time basis is also required to aid more strategic operational planning.
Paul Holland, Vice President of Advanced US, says, “Many organizations are still facing intense pressure to cut spending and work smarter but are bogged down with outdated software systems and spreadsheet consolidation. Advanced’s purpose designed budgeting and forecasting software has a proven track record of improving distributed budgeting processes, positively impacting business planning and decision making.”
To meet the demand for more integrated financial planning, Collaborative Planning version 8 includes the introduction of ‘in memory’ processing, assisting organizations to improve financial transparency and control by facilitating shared knowledge. The new functionality provides enhanced real-time reporting and improved budget modelling capabilities which offer up to 20 times better performance compared to earlier versions of the solution, in addition to greater scalability.
Users are now able to clone information from current and historical budget models in real-time, simplifying the analysis of huge volumes of financial data sets in minutes, not hours. Version 8’s comprehensive scenario modelling functionality allows managers to make accurate and informed plans based on a better understanding of their current financial position.
Holland adds, “The enhancements in Collaborative Planning version 8 are as a direct result of existing customer feedback. By further simplifying the entire budgeting process, the solution provides time savings typically in the region of 50 to 60%, freeing up finance professionals to add greater value and ensures organizations can plan with confidence for the future.”
Collaborative Planning integrates with all leading financial management, HR and payroll systems to easily create and analyse financial information within one unified solution, eliminating time-consuming and error prone spreadsheet consolidation.
The solution is used by hundreds of organizations around the world including Dean Clinic, Bonhams and ChildFund International.