Your budgeting process made simple

PARTNER FEATURE: The last quarter of the year is always a hectic time in motor retailing. Not only are there year-end targets to hit, but there’s also a mass of back-office work to do preparing year-end accounts and budget reporting.

For many this means a time-consuming focus on gathering data from different systems in different divisions and functions across the business, consolidating several spreadsheets into one consistent document and then, hopefully, being able to extract the relevant information and re-export into a final report. No wonder it takes time and, often, is fraught with the danger of errors.

Reduce error

Of course, it needn’t be like this. A good business intelligence platform, such as our Mazeinsight end-to-end solution, should be able to do all the hard work for you. Not only cutting management time but also significantly reducing the risk of error and enhancing audit trails and reporting.

One key factor is that Mazeinsight can extract data from different operating systems, across multiple locations and functions. Of course, everything is securely stored online, so authorised staff can access the same budget document, saving the need for multiple spreadsheets being emailed around the business (and the risks associated with that).

David Sherriff, group finance director, Steven Eagell, who uses Mazeinsight across the group told us: “We haven’t got the risk of mapping errors within spreadsheets, giving us confidence in the consolidated results. We’ve had years of pain of spreadsheets and consolidations that didn’t consolidate.”

Save time

With automated consolidation saving hours of number crunching, vital management time can be freed-up for more profitable activity.

Sheraz Rashid, divisional director, Steven Eagell, says: “The system has been massively helpful at streamlining our operations. I would say our budgets are probably the most streamlined they have been in all the years I’ve been doing them.”

And the workflow functionality within Mazeinsight means it’s easy to keep track of the submission progress so the impact of new data and new forecasts can be seen immediately.

John Vilums, regional director, at multi-franchise group Perrys, told us: “One of the biggest wins of the system has been how quickly we can alter things and see the immediate impact on the bottom line. Budgeting and forecasting are no longer the time-monopolisers they once were. Everything is in one place and it’s a huge time saving benefit.”

If you’d like help with your budgeting this year or would like to learn more about Mazeinsight, call 07375 675384 to book a free demonstration.

By James Noble, managing director at Mazepoint. Find out more at Mazepoint.com