Creating Budgets that Drive Business Performance
Budgeting and planning are critical processes for organizations to align their financial resources with strategic objectives and drive business performance.
In this session, the finance and operations leaders at Abacum, a leading FP&A platform, addressed the challenges that finance teams face in making the budgeting process frictionless and a true driver of business success.
This session showcases how Abacum’s platform can empower finance teams to streamline the budgeting and planning workflow, while also providing the necessary tools and insights to make more informed, data-driven decisions. Julie and James, walked the audience through Abacum’s application of the Target Framework, which maps out the various steps in the budgeting process and highlights the areas where software can automate tasks versus where human judgment and strategic thinking are required. They demonstrated how Abacum’s features, such as AI-powered forecasting, scenario planning, and real-time performance monitoring, can help finance teams optimize their budgeting process and drive better business outcomes.
Highlights:
- Abacum positions itself as an end-to-end FP&A platform that empowers finance teams to drive better decisions and faster execution for their organizations.
- The webinar discussed Abacum’s application of the Target Framework, which maps the budgeting process and identifies areas where software can manage tasks versus requiring human thinking.
- The platform is designed to streamline departmental alignment, resource allocation, metric generation, and performance evaluation, allowing finance teams to focus on strategic decision-making.
- Abacum offers advanced features such as AI-powered forecasting, anomaly detection, and scenario planning to enhance the budgeting and planning capabilities of its customers.
- The demo showcased Abacum’s budget dashboard, which provides a centralized and real-time view of metrics and inputs from budget owners across the organization.
- The tool enables companies to combine top-down and bottom-up inputs for the new ARR plan, ensuring strategic objectives are met with realistic plans from budget owners.
- Abacum allows for granular planning, with the ability to collect vendor-level inputs for non-staff cost OPEX, providing detailed visibility.
- The platform leverages AI-driven forecasting and summaries to help budget owners validate their projections and assumptions.
- Abacum empowers continuous monitoring of performance versus plans, enabling organizations to quickly identify variances and make necessary adjustments to their budgets.
Responses