Are you able to gather timely capital project information for strategic forecasts? Are data inconsistencies impacting reporting? Is there a better way to track project actuals to the budget?
PowerPlan’s enterprise platform captures and stores information from across the organization, allowing financial analysts to run scenarios and test assumptions using the most current capital project data. This insight helps maintain accurate reporting and enhance strategic decision making.
Align Forecasts across the Organization
Once set, capital improvement budgets must closely track against actual spending. Seemingly minor changes, such as a revised project schedule, can have major implications to overall spending and cash flow. Without insight into this detail, financial analysts have to make assumptions about project costs, which risks misstating the forecast. PowerPlan allows analysts to view high-level data and drill into the detail without becoming overwhelmed by low-level information.
Improve the Data Gathering Process
Gathering data for monthly updates can take several weeks as spreadsheets are passed along to different departments and then consolidated. PowerPlan captures information from across the organization on a common platform, reducing the process to several days. Faster insight allows companies to reprioritize projects or increase spending, depending on cash flow requirements.
Many companies have deployed a rolling forecast process, which allows them to report monthly instead of quarterly. A faster reporting cadence helps improve analysis and allows more time to re-direct project resources when necessary.