ARTICLE — Controlling budgets at most businesses can be a pain.
- Decision-makers have limited visibility into the procurement pipeline.
- There is no way to prevent out-of-budget or rogue purchases.
- Reconciling budget versus actual reports against procurement data can be hard.
Decentralized purchasing and managing large capital projects only make things worse. No wonder so many businesses have trouble forecasting expenditures and achieving profitability.
That is why more NetSuite customers are deploying budgetary control solutions for NetSuite.
The technology provides the built-in controls and granular data that NetSuite customers need:
- Real-time budget checking and enforcement during procurement.
- Updates to the budget ledger every time a transaction is modified.
- Proactive monitoring of budget performance throughout the enterprise.
- Automation of complex business processes such as Capex and Opex budgeting cycles.
- Effortless reconciliation of reports and more accurate budget-versus-actual reporting.
All this makes the process of controlling budgets painless for organizations in any vertical.
- Non-profits can more easily enforce budget spend against allowable expense
- Software firms can prevent spending on expenses such as software licenses and travel
- Construction firms can control budgets for large capital projects
- Schools can manage spend on a per-location basis
Wondering how your organization can benefit from tighter budget control?
Click here to read more about PyanGo’s budgetary control solution for NetSuite.
Want to see the solution for yourself? Click here to arrange a product demonstration.