As businesses evolve towards better financial management, greater emphasis on more accurate planning is required to ensure reporting can quickly and reliably identify cash flow requirements, resource overload and better matching of income with expenses.
Before you know it, you are suddenly allocating budgeted hours at an employee level and the expected phased expenditure on the projects they will be working on over the next financial period. This is typically referred to as zero based budgeting where detailed time-phased plans are made, and are valuable when running your projects and monitoring expenditure against actuals. If done accurately variance reporting at each period end is a much easier process to manage and takes less time!
What becomes of all this data though? You may have thousands of projects and hundreds or thousands of tasks associated with these, all budgeted down to resource level. Fantastic planning information but how do you get it into your Oracle EBS instance?
Expenditure spread patterns could be analysed across the organization and your implementation team could create multiple spread curves to automatically time phase your entered totals across a range of PA or GL periods. This would take a huge effort and may not always result in the expected phasing unless every possible scenario was covered.
You could generate your budgets from existing work, financial or staffing plans but your values still need to be entered checked and more than likely updated. You could enter your budgets directly but why do this when you have thousands of records to enter and the forms are difficult to use!
Oracle recognised this difficulty and released Excel WebADI templates that can be used to phase your budgets. Individual Project information can be downloaded into an Excel worksheet with the planning elements (tasks and resources) and plan amounts (quantities, costs, and revenues) for the selected version, all pre-populated and ready for your budget edits and upload back into Oracle EBS. There are limitations and restrictions with using Web ADI, and multiple project budget uploads at the same time can be difficult to manage.
As you know, once the budget cycle has been approved and closed off, management want quick turnaround of their reports!
More4Apps’ first product, Budget Wizard, released back in 2000 and continually enhanced ever since, is a flexible mass budget uploader with additional functionality. It is used by thousands of users around the world allowing them to load their project budgets quickly and accurately using Excel without having to use any of the Oracle forms or WebADI components.
Choose a data entry method that suits you and your business and get loading before budget time strikes again!