Benefits of a cloud-based planning platform

Modern times call for a modern cloud-based planning solution. Countless organizations are still managing their increasingly complex budgeting process solely through the use of spreadsheets and email. This process is error-prone due to having to enter data into Excel and then send it to someone who then compiles all of the planning sheets into a single “master” document. The amount of time spent simply overseeing the planning process can take considerable time away from the actual management of the business.

While most ERP systems lack robust planning tools, especially ones that help with the management of the planning process and workflows, there are a number of tools that leverage cloud technology in order to help streamline the planning process while adding value throughout the organization.

In addition to many of the benefits that come with cloud-based tools, such as lower-cost subscription pricing and not having to worry about servers and IT infrastructure, one of the main benefits of migrating your planning process to a cloud-based solution is to centralize all aspects of the planning process in a single purpose-built tool. Using a tool like Solver, all of the business users that participate in the planning process can log in to a central location using any web browser, see what tasks have been assigned to them, and easily work through the planning process using an intuitive interface meant for business users. Planning managers can instantly see various aspects of the plan as it comes together in real-time and can easily collaborate and comment on the planning forms and budget workflows with other business users.

In addition, there are user-friendly tools that make it easy for business users to perform activities like what-if analysis and modeling to test how changes in a value will impact the rest of your finances. Templates and forms designed with customizable features enable faster planning. Users can estimate financial outcomes based on past data on a weekly, monthly, or annual basis. Budget values may be spread over a specified period including quarterly or seasonal trends. Create unlimited budget versions to get an accurate idea of your organization’s financial future. 

Solver also includes built-in reporting and dashboards which make it easy for business users to leverage numbers from prior periods in order to make informed decisions about what they think will happen in the future. In addition to making it easy to report on data, Solver provides integrations to a wide variety of ERP and operational systems so that financial and operational data can be consolidated into a single place for reporting and planning purposes.

Leveraging a cloud-based planning tool such as Solver not only reduces the amount of time that it takes to complete the planning process but also increases the accuracy of the final plan by reducing human error from incorrect Excel files. For many organizations, this also makes it possible to increase the frequency of reforecasting because of how much faster and easier the entire planning process becomes.

Companies of all sizes, across all industries, need an active planning process. Solver is powering a best-in-class and better-in-suite solution for organizational planning that helps people across the organization be part of an active planning process, enabling business agility, and giving customers the insights they need to make better decisions faster. This is in contrast to legacy tools which are difficult to use, limit the planning process to include only a few power users, have inflexible modeling capabilities, and have restrictions on what-if scenario analysis. Solver provides a powerful, yet easy-to-use planning platform that delivers the power and performance you need when you need it, so you can model, report, and analyze at any scale and complexity. If you’re interested in learning more, contact our data sciences team today. Our team is excited to hear about your organizational needs and goals.