Predictive Planning is a powerful feature in Planning and Budgeting that allows users to access historic data and make predictions about the future budget. By utilizing Predictive Planning, you can view trends and growth rate predictions to validate and potentially update budget values. This feature enables a more accurate representation of business performance and supports… Continue reading Oracle Planning and Budgeting Cloud Services – Predictive Planning
Category: NS Planning and Budgeting
Overview of NetSuite Planning and Budgeting Cloud
Welcome to an overview of NetSuite Planning and Budgeting Cloud. In this post, we’ll show you how to access the environment and walk through the general features and benefits of the Planning and Budgeting Cloud (NSPB/PBCS). Accessing the Environment 1. Login to your PBCS environment using your credentials. 2. Click on the environment/identity domain you’d… Continue reading Overview of NetSuite Planning and Budgeting Cloud
Challenges that NetSuite planning and budgeting solution overcomes
Generally, businesses use spreadsheets for financial calculations and budgeting. But these are not proper tools because of their labour-intensiveness and time-taking efforts. NetSuite planning and budgeting platform can solve the problems faced in using spreadsheets. Error-prone Data The chances of error are high when you manually enter data in spreadsheets or copy-paste from one sheet… Continue reading Challenges that NetSuite planning and budgeting solution overcomes
Need for NetSuite Planning and Budgeting Solution
Every business has set goals to achieve, including operational and financial objectives. Achieving these goals and objectives is possible only with proper financial planning. Financial planning involves managing your money to avoid financial roadblocks in the journey of achieving business goals. Financial planning and budgeting are primarily essential to develop investors’ interests in your business… Continue reading Need for NetSuite Planning and Budgeting Solution
Features and Functionalities of NetSuite Planning and Budgeting
NetSuite planning and budgeting platform has the following features and functionalities: 1. Budgeting and Forecasting in NetSuite Creating budgets is easier in the NetSuite budgeting solution. You don’t need to feed or transfer data from one sheet to another. The software has templates and pre-built reports, making it easier for you to prepare and compare budgets. The… Continue reading Features and Functionalities of NetSuite Planning and Budgeting
Risks of not budgeting
Because budgeting is such a large and important part of business operations, failing to do so correctly can have negative results, including: Not having an emergency fund An inability to expand operations or expand into a new market Not being able to secure investment dollars Potentially shutting down the company because it can not get… Continue reading Risks of not budgeting
NetSuite Planning and Budgeting Benefits
An effective budget should give a business the tools to track how the company is doing financially so it can plan for both short- and long-term expenses for everything from new hires to the cost of expanding operations. It can also give a company the ability to share its process and budget with a governing… Continue reading NetSuite Planning and Budgeting Benefits
What is a Budget? and Why budget is important?
What is a budget? A budget is an estimation of expenses and income over a certain period, usually monthly, quarterly or yearly. It allows a business to plan out expenses, reach business goals and anticipate any operational changes as needed to support the business. A budget helps a business understand its operating costs and can… Continue reading What is a Budget? and Why budget is important?
Importance of OpEx Planning
Operating Expenses (OpEx) is a term used within budgeting and spending that is usually refers to a company’s everyday expenses. These are all purchases that are required for the day-to-day essential functions of the organization and are generally exhausted within the same accounting period. Some common examples of OpEx expenses include but are not limited… Continue reading Importance of OpEx Planning
13-Period Calendar
Some organizations and individuals choose to deviate from the traditional 12-month calendar and adopt a 13-period calendar instead. This alternative calendar divides the year into 13 equal periods, each consisting of four weeks. With exactly 28 days in each period, the 13-period calendar offers several advantages over its 12-month counterpart. One notable benefit of the… Continue reading 13-Period Calendar