With forecasting, rough estimate data instead of accurate numbers make a business outlook as clear as a hazy crystal ball. Engineers Australia, a nonprofit professional organization, faced that dilemma. Lengthy manual processes involving Excel limited the depth of forecasts, leading to lack of confidence in data accuracy and reconciliation. After implementing Adaptive Insights software, business managers at Engineers Australia gained more control and visibility in budgeting processes. The increased ownership and accountability led to ‘wow’ moments for budget managers, transforming budgeting into an exciting process. The finance team at Engineers Australia gained more understanding of financial data and more time to focus on business strategy.
- Difficulty completing a forecast due to large manual effort required when using Excel
- Lengthy forecasting process that only allowed for estimated data
- Lacked confidence in data accuracy and reconciliation
- Business managers have more control with budget and greater visibility
- More time to focus on business strategy
- Improved in-depth and detailed understanding of financial data