Neil’s business case for Budget Holder Management


Meet Neil.
He’s the CFO at Fast-Growing Company.com, a successful start-up company that is rapidly
expanding. He is not keen on Excel spreadsheets, like the ones Sonia’s uses, in the slightest.
This is Sonia. She’s a marketing director. The company’s biggest spender.
Up until now, Sonia has been using Excel spreadsheets to manage her marketing budget. But recently,
she’s found managing her budget this way to be tiresome and extremely time-consuming.
Her Excel spreadsheets are dense with data that must be updated every month, so to divide
the effort, the spreadsheets are dispersed amongst all the team members in her department.
Alex has a spreadsheet for events budget. Jessica has a budget spreadsheet for technology.
And Zaynab has a budget spreadsheet for PR and advertising.
But despite this level of organisation, none of the budgets ever seem to match up!
This leaves Sonia frustrated as she can’t accurately judge the status of her budget
to make more spending decisions. The team also feels frustrated as they want to help
Sonia, but they can’t understand were they’re going wrong in their reporting.
She finally figures it out and sends her updated spreadsheet to finance.
But from outside of the marketing department there’s a storm brewing…
Neil is sick of managing spreadsheets full of inefficiencies that don’t actually help
his with his forecasts. That’s because Excel only allows one person
at a time to work on a file, so if Sonia is updating her version whilst Neil is looking
at his, he won’t see the updates she has made in his version, unless she remembers
to send it to him. Even if she does send him the latest version
each time her team updates it, Neil is then left with various versions of the spreadsheets
that can make it difficult to keep track of, which is the latest version… leading to
the risk of even more inefficiencies On Friday, he sent the latest file to Sonia
so she could add the current marketing spend – but her numbers didn’t match his!
Putting her projects on hold, she then spent a good few days trying to fix her numbers
to match his and finally sent it back. By that time, Neil had sent it to Rory, Head
of IT, and his numbers were different, too! Unfortunately, the reality is that the spreadsheet
was already 2 weeks out of date! So any budget spent in the last 2 weeks wasn’t
accounted for. But how is Neil supposed to know what’s being spent in real time?
Managing cash flow and budgets this way is simply ineffective and now Neil will have
to work all weekend again to fix this. Just like last month, Neil is left frustrated and
banging his head against the wall. And why shouldn’t he be? Every month, it’s
the same story: All financial analysis is delayed or incorrect
All departments budget and manage spend differently His accounts payable clerk, Doris, can’t
seem to find the lost invoice from a supplier who sent it two weeks ago
Neil wonders, surely smart companies are not working all weekend?
The good news is that there is a better way! Neil heard about Budget Holder Management.
Budget Holder Management is the next generation of financial management, unifying how budget
holders like Sonia and financial professionals like Neil work together to manage budget effectively.
He soon called up Compleat and asked them for more info about it.
When he found out how affordable Compleat is, how quickly it was to implement it and
how much time and money he would save, Neil didn’t hesitate to get Budget Holder Management
straight away! When he showed Sonia and the other budget
holders how it could help them more accurately manage their budgets, with less monthly administrative
time required than before, they were on board too!
Unlike Excel spreadsheets, it provides a single view of real-time budget information that
can be accessed by Neil, Sonia and anyone else in the business who wants or needs to
see. From budget already spent or committed to
forecasted budget, Sonia gets a truly accurate view of her budget status to be able to manage
it effectively and Neil can forecast company budget across departments much more accurately.
He can also cut down time spent on monthly budget management tasks and dedicate more
time to strategic financial projects that will really drive the company forward.
He also gets his weekends back for his other passion in life!
Budget Holder Management has helped Fast-Growing Company.com manage budgets more intelligently.
Compleat. Smart spend software.

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