Creating a business budget
Design your own budgets for specific requirements to provide a high level of purchasing transparency. This eliminates unnecessary spending and empowers organizations to make well-informed choices. Convenient analytics display a visual summary of what portion of the budget has been used, and what remains. Approvers get a quick view of the budget, allowing them to make the most well-informed decisions.
Plan project spend
Set and track budgets for projects that you’re working on. You can easily allocate portions of the main budget to project lines (sub-categories). All purchases tied to a specific project will be reflected in real-time on an easy-to-access spend report. Budgets are critical for procurement planning, especially if saving money is part of the plan.
SIMPLIFY THE MAINTENANCE OF A MULTI-LEVEL SPEND MANAGEMENT PLAN
BUDGET LEVELS
Create budgets to forecast and track all expenditures throughout your company. Assign budgets to all levels of your company including branches, locations & departments to ensure limits are clearly outlined, and spending is accurately recorded.
BUDGET CATEGORIES
Plan out spending strategies by creating budgets that can incorporate all types of spending throughout the company. Keep track of spending related to general ledger accounts, categories and all hierarchy levels of the company to ensure that purchases don’t exceed established limits.
PROJECT BUDGETS
For unique or short term budgeting needs, project budgets offer an effective way to plan and manage cost estimates associated with those initiatives. Each created project can also include sub-projects, which add additional structure to the way the costs for the budget are tracked.
BUDGET CAPPING
Receive automated notifications when an expenditure would surpass an established budget on the system. Prevent overspending by inhibiting the placement of orders that would exceed a budget limit, or allow users to go over budget with just a warning, you control how it works.
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