FORECASTING AT YOUR FINGERTIPS

EDA streamlines budgeting and forecasting across your business with intuitive workflows for assignment, submission, and approval. It features built-in permissions, notifications, and a detailed history for each approval workflow. The budget worksheet offers familiar spreadsheet functions, real-time collaboration, and the ability to publish data back into the EDA application for comprehensive analysis. 

• Developer: Phocas ISV alliance partner of Epicor
• Accessible from anywhere at any time on a web-based interface
• User-friendly and easy budget planning
• Real-time collaboration and commenting

Features

• Budget workflows—easy collaboration across your business - Workflows allow the coordination of budgeting and forecasting across divisions, departments, and other internal groupings, with an intuitive assignment, submission, and approval process for each account code line. - For guidance, comments can be attached, and a detailed history of each workflow can be viewed. - With built in permissions set by Finance, GL codes are only visible to rightful people on a needs-to-know basis. Notifications let contributors easily track the items assigned to them and alert them to new tasks.
• Budget worksheet—let the subject matter experts refine the numbers - Designed to have well-known spreadsheet features while retaining a modern EDA feel, users navigate the budget worksheet using familiar keyboard shortcuts. - Users can enter values or formulas in worksheet cells, with formulas able to reference cells in the worksheet, previous year’s values, or values from drivers (e.g. sales, headcount, or miscellaneous drivers). - Entry can be into each month, or a total can be entered, and various options chosen to spread the total over the budget period months. - Worksheets become highly collaborative with users able to add comments to cells and have visibility to other users’ changes in real-time. - An added bonus is that you can publish your budget data back into EDA software, where it automatically becomes a stream available for analysis alongside EDA Financial Statements and visibility across the business.
• Budget drivers—all areas of your business are accounted for - Data in non-financial databases (in Phocas software or your ERP) can be leveraged during detailed budgeting so that the true budget drivers including sales figures, headcount and capital expenditure are included. - Drivers allow for drill-down into detail lines that make up the budget for those items (e.g. for sales, drill down into salesperson, product group, or SKU level). - The headcount driver allows for budgeting at the employee level, including all benefits and related costs.
• **Security and permissions—protect your data integrity: **Account code level permissions inherited from the EDA financial database preserve user-restrictions already in place.
• Forecasting—look ahead with rolling forecasts - Forecasting uses the budget workflow and worksheet and provides a simple way to either reforecast estimates during the budget period or prepare a rolling forecast which will form the basis of the next year’s budget. - You can prepare your forecasts easily, by bringing in current year actuals to date and revising budget assumptions.
• **Planning—so you can model different scenarios: **Different scenarios are modeled and the impact on the financial position under each scenario is analyzed. Planning involves making multiple copies of prepared budgets and adjusting assumptions to test the result.

Benefits

• **Streamlined Collaboration: **Intuitive workflows facilitate easy coordination across divisions and departments, ensuring everyone is on the same page.
• **Enhanced Security: **Built-in permissions ensure that only authorized personnel can access specific GL codes, maintaining data confidentiality.
• **Real-Time Updates: **Users can see changes and comments in real-time, making the budgeting process more dynamic and interactive.
• **Familiar Interface: **The budget worksheet retains familiar spreadsheet features, making it easy for users to navigate and input data, with the option to export to Excel.
• **Comprehensive Analysis: **Budget data can be published back into EDA software, allowing for thorough analysis alongside financial statements.