 |
| 1. |
Only small group of personnel contributing to reviews of budget data |
| 2. |
Yearly budgeting exercise only and painful |
| 3. |
Budget data maintained in spreadsheets |
| 4. |
Prone to human errors when linking too many spreadsheets |
| 5. |
Different spreadsheet versioning by users complicating budget consolidation process |
| 6. |
Too many formulae linkages between spreadsheets resulting in slow updates |
| 7. |
Loss of tracking ability of budget data and lack of tight enough controls |
| 8. |
Difficulty to develop standard budgeting operating procedures and guidelines |
| 9. |
Unable to deploy effective automation of computations as well as validation of data/entry |
| 10. |
Require higher accuracy & efficiencies in budget data & budgeting management |
| 11. |
Budget compilation process reduced from 1 to 2 days to 1 to 2 hours |
| |
| |
 |
| 1. |
Every employee is now contributing to budget data |
| 2. |
Able to produce budgets quarterly with budget versioning |
| 3. |
Errors around budget data minimised with proper budget operational processes |
| 4. |
Budget forms unified and centralised |
| 5. |
Budget reports simplified & straight forward as directly retrieved from the system |
| 6. |
Every budget updated can be tracked & monitored with certain control deployed |
| 7. |
Streamlining budgeting operation and able to established with SOP
i.e. standard operation procedure
|
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