Relying on outdated manual processes or disparate spreadsheets for budgeting can lead to inefficiencies, errors, and a significant lag in responding to market changes. This is where Infor Budgeting software emerges as a transformative solution.
Designed to streamline and enhance every aspect of the financial planning cycle, Infor Budgeting provides a powerful suite of tools that enable organizations to move beyond traditional methods. This article will explore the core features, benefits, and integrations that make Infor Budgeting a crucial player for modern businesses seeking to achieve financial agility and strategic foresight.
Infor EPM: The Ultimate Budgeting Tool
Infor Enterprise Performance Management (EPM) offers comprehensive financial management tools, integrating planning, budgeting, forecasting, and consolidation into a seamless EPM software solution. This comprehensive cloud solution significantly improves decision-making and operational efficiency, making it an indispensable asset for any organization.
Infor EPM allows organizations to integrate workforce planning with budgeting, thereby enhancing strategic decision-making. Aligning budgeting with employee performance and organizational strategies, Infor EPM empowers organizations to make informed decisions that improve overall business performance.
Streamlined Budgeting Process
The budgeting module in Infor EPM is designed to simplify and accelerate the budgeting process. By automating workflows, the tool helps organizations reduce manual input and errors and accelerate budget preparation. This automation not only saves time but also ensures that planned figures are closely aligned with actual financial performance.
Additionally, Infor EPM integrates advanced business tools that provide comprehensive visibility into financial performance. This enhanced visibility enables organizations to align their budgets with actual results better, ultimately improving financial planning and decision-making.
Integrating Budgets with Actuals
Integrating budgets with actuals is a crucial aspect of effective financial planning. Infor EPM provides the tools necessary to unify profit and loss, balance sheet, and cash flow planning, which enhances overall budget accuracy. This seamless integration allows organizations to closely monitor their financial performance and make necessary adjustments to their strategies.
The impact of this integration on financial decision-making cannot be overstated. Ensuring close alignment between budgets and actuals allows organizations to improve forecasting accuracy and achieve greater financial success.
AI-Based Predictions for Future Activities
Infor EPM leverages artificial intelligence to provide advanced forecasting capabilities. Using AI-based predictions, the software enhances financial forecast accuracy and generates various scenarios. This allows organizations to better understand potential future activities and make more informed strategic decisions.
The use of AI in Infor EPM also facilitates the creation of detailed what-if scenarios. These scenarios enable organizations to explore various outcomes and develop strategies that are more closely aligned with their business objectives.
Enhancing Financial Performance Management Capabilities
Infor EPM offers an integrated approach to planning, budgeting, and forecasting, significantly enhancing financial performance management capabilities. By integrating advanced tools to support strategic financial decisions, Infor EPM boosts overall business performance and facilitates efficient financial planning and analysis.
Infor’s EPM software also integrates modern intelligent business and financial management tools that improve financial planning and decision-making. These tools enable organizations to make informed strategic decisions that enhance corporate performance and drive business success.
Real-Time Business Insights
One of the key benefits of Infor EPM is its ability to provide real-time business insights. By leveraging real-time data analysis, organizations can make informed decisions that enhance financial planning and drive business performance. With a centralized data repository, Infor EPM ensures timely insights for better decision-making.
Real-time updates also enable immediate comparisons between budgets and actual financial performance, facilitating timely decision-making and enhancing the accuracy of financial planning.
Monitoring Current Performance
Monitoring current business performance is essential for effective financial management. Infor EPM enhances this capability by:
- Integrating planned budgets with actual financial results
- Improving the accuracy of forecasts and performance evaluations
- Providing automated monitoring features that offer continuous oversight
- Helping organizations identify compliance issues proactively
- Enhancing audit processes in enterprise performance management
Additionally, the system utilizes automated monitoring to enhance audit effectiveness and reduce compliance-related expenses. By integrating budgets with actual financial data, Infor EPM ensures more accurate forecasting and better performance evaluations.
Workforce Planning and Budgeting
Effective workforce planning and budgeting are critical for aligning staffing needs with financial resources. Infor EPM enables organizations to allocate resources efficiently and align these with strategic business goals, enhancing operational efficiency. By integrating workforce planning with budgeting, Infor EPM allows for more informed decision-making that drives business performance.
Optimizing Headcount and Scheduling
Workforce planning is essential for ensuring that an organization can effectively allocate its human resources to meet operational needs. Infor EPM helps optimize headcount to meet scheduling and product line requirements, ensuring that the correct number of employees is available when needed.
Utilizing historical data and predictive analytics, organizations can refine their headcount forecasting to match labor supply and demand more effectively. This data-driven decision-making can lead to significant cost savings and improved operational efficiency.
Tailored Financial Planning for Staff
Customized financial plans are essential for effective workforce management. Infor EPM provides tools to create customized financial plans that account for the unique aspects of a workforce, thereby enhancing budget accuracy and meeting specific employee needs.
Implementing specific financial strategies tailored to workforce dynamics can help accurately forecast labor costs. Utilizing analytics, organizations can adjust financial plans based on ongoing workforce performance and market conditions, ensuring efficient workforce planning and budgeting.
Capital Expense Planning and Project Forecasts
Infor EPM provides a comprehensive solution for managing the capital expenditure process, integrating various phases within a single workflow. This integration enhances project and investment management by allowing businesses to create precise forecasts that align with their overall budgeting strategies.
Integrating detailed documentation and status tracking into a unified workflow, Infor EPM facilitates efficient capital expense planning and project forecasting. This streamlined process ensures that all project-related data is readily accessible for informed decision-making and effective resource management.
Unified Workflow for Efficiency
The unified workflow in Infor EPM streamlines capital planning processes, ensuring that all project-related data is consolidated and accessible for better decision-making. This streamlined process enhances operational efficiency by improving project funding management and resource distribution.
By consolidating various phases of capital expense planning into a single workflow, Infor EPM facilitates more effective resource management and project timelines. This integration enables organizations to efficiently manage their capital expenditures and improve overall project management.
Project Management Tools
Infor EPM includes project management tools that:
- Enable users to document project details
- Track project progress efficiently, enhancing accountability
- Facilitate documentation and tracking of project statuses throughout their lifecycle
- Ensure comprehensive oversight
Providing specialized tools for tracking project statuses and maintaining documentation, Infor EPM ensures improved oversight and approvals. This enhanced accountability ensures that projects are completed on time and within budget.
Governance, Risk, and Compliance
Infor EPM implements robust data protection measures to reduce the likelihood of compliance risks. Regular security assessments help identify vulnerabilities and strengthen the overall data protection strategy, ensuring that sensitive financial data is well-protected.
Integrated security measures within Infor EPM are essential for maintaining compliance and protecting sensitive financial data. Incorporating these measures, organizations can enhance trust and accountability in their financial management processes.
Automated Monitoring and Audits
Real-time data analysis enables organizations to continuously monitor non-financial data performance, which is essential for conducting timely audits. Tools that monitor current business performance within Infor EPM enable immediate corrections and adjustments during audits, enhancing compliance and overall data accuracy.
The integration of real-time business insights with compliance metrics enhances the accuracy of compliance monitoring and reporting. Automated monitoring features reduce the risk of errors and omissions, ultimately lowering compliance costs associated with manual audits.
Enhancing Data Security
Infor EPM incorporates integrated security and compliance measures that protect sensitive financial data and ensure adherence to regulations. The system safeguards against unauthorized access, ensuring that only authorized personnel can handle sensitive financial information.
Automated monitoring capabilities facilitate continuous auditing and tracking of financial activities, enhancing compliance with industry regulations. These comprehensive security measures significantly minimize the risk of non-compliance, leading to improved trust and accountability in financial management.
Key Benefits of Infor EPM
- Improved Decision-Making: Provides timely and accurate financial insights, enabling more informed and strategic decisions.
- Enhanced Financial Agility: Streamlines planning, budgeting, and forecasting processes, allowing organizations to respond quickly to market changes.
- Increased Operational Efficiency: Automates financial processes and reduces reliance on manual spreadsheets to improve time savings and limit errors.
- Better Resource Allocation: Offers comprehensive visibility into financial data, allowing users to optimize resource allocation and investment strategies.
- Stronger Collaboration: Fosters collaboration across departments by providing a unified view of financial plans and performance.
How Can We Help?
Surety Systems brings extensive, hands-on experience with Infor ERP solutions, understanding how to implement and optimize Infor Budgeting to align with your unique financial processes and strategic business objectives.
Whether you’re looking for support with initial implementation, seamless integration with other Infor modules or disparate systems, or seeking to enhance your existing setup for more advanced forecasting and analysis, our senior-level Infor consultants partner directly with your internal teams to achieve long-term success.
Contact Us
For more information about our Infor consulting services or to get started on a project with our team, contact us today.
Frequently Asked Questions
What are the main features of Infor EPM?
Infor EPM offers an integrated solution for planning, budgeting, forecasting, and financial consolidation, featuring advanced financial planning tools, real-time business insights, and AI-driven predictive analytics. These capabilities facilitate more efficient financial management and decision-making.
How does Infor EPM simplify the budgeting process?
Infor EPM streamlines the budgeting process by automating workflows, minimizing manual input and errors, and facilitating quicker budget preparation while ensuring better alignment with actual financial performance.
How does Infor EPM enhance workforce planning and budgeting?
Infor EPM enhances workforce planning and budgeting by optimizing headcount and scheduling, allowing for tailored financial plans that align staffing needs with available financial resources. This promotes operational efficiency within organizations.
What makes the deployment of Infor EPM fast and cost-effective?
The deployment of Infor EPM is fast and cost-effective due to expert implementation strategies, comprehensive user training, transparent budget communication, and ongoing progress reviews. This structured approach ensures a streamlined and efficient deployment process.
