MANAGEMENT OF AREAS
Budget and financial management software
The area of budget management in the V-Desk system is designed to support the disbursement of funds within the framework of the company’s established plans, as well as to carry out the controlling process at each stage of accounting for a given project, investment, or departmental budget. The tool enables the presentation of data on the effectiveness of company management to the executive staff.
The Budgets module is a special financial management software, which can easily be labelled as expense manager. Cost recording is made possible by creating advanced budget trees by investment (objects, projects) and their individual elements (cost type, cost item). The modern cost management methods presented in the software also include expense planning for the following year – this budgeting in business management functionality is also available in the V-Desk system.
Functionalities of budget and financial management software
- effective cost management by creating budget plans
- automated collection of cost information based on needs and orders created in the system, as well as based on recorded cost invoices
- alerting when the budget plan is exceeded when creating a need/order
- comparison of plans with current and final spending (amount and quantity); full integration with processes such as the company’s invoice workflow and the chart of accounts
- tracking financial analytics at the level of cost invoices
- seamless communication with Microsoft Excel, cost documents and budget data freely exported and imported to files, export of reports to PDF printout
Managing the company’s budget requires automatically updating performance data. This makes it possible to manage costs strategically, i.e. track and analyze the performance of a given project, investment or contract in real time, taking into account both profitability and cash-flow generation on a given project.
Benefits of electronic management of company finances
After implementing the V-Desk system, cost management in the company offers a number of benefits:
- Reduced and streamlined the time to create, analyze, control and account for project/investment budgets
- Convenient and flexible investment planning and budget management
- Percentage and amount analysis of deviations
- Recording in a single database all investments to which, after authorization, interested persons can have access
- Obtaining additional information to support the decision-making process
Let’s talk about effective budget and financial management for your business
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