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Transportation
The accuracy of budgeting, forecasting and management reporting is very important for the transportation industry. For example, the air flight services, most of them need a complete solution for financial information delivery, facilitating the emergence of business intelligence from myriad financial data, with a greater emphasis on strategic financial planning and management, such that high and middle level executives can gain a deeper insight into the companyˇ¦s business processes and finances.
Our Financial Reporting Package could empower the managers with an integrated data delivery platform, enriched with multi-dimensional analysis capability. This facilitates creation of realistic financial budgets by analysing both quantitative and dollar information and to forecast financial results on a monthly basis. The system allows users to prepare a more realistic budget very efficiently in a short turnaround time and, at a cost centre level they can quickly recast the budget with unprecedented detail, providing more background information for financial modelling.
The system enables users to consolidate and analyse this background data providing critical capabilities to control staff costs. It has in-built functionality to generate different budgets cuts. This means that when underlying assumptions change, the user don't have to re-key all the data across multiple cost centres, they just change core parameters in the database, and create a different version of the existing budget.
The system also has the ability to relate financial budget figures to the outputs and services they are expected to generate. Thus every dollar amount spent on equipment maintenance can easily be linked back to the number of maintenance hours planned for such a facility. Another important feature of our solution is the facility to record forecast estimates for each cost centre on a monthly basis. Once this is done, the system consolidates the budget, actual, and forecast and provides combined interactive reports for the managers to record comments and explanations against the financial variances. The need to send separate paper reports and memos explaining the variances is thus totally eliminated.
This way the system tailors the technology to meet the specific process and needs of the organisation.
Key benefits :
- Business managers can easily analyse everything that drives the business. Everything from the staff numbers to dollar values can be analysed by them without the requirement for programming.
- A very accurate financial picture and users can easily monitor their spend versus forecast month over month.
- Facility to capture underlying quantitative information along with the dollar values and highlight problem areas in colour.
- Managers can see and analyse past performance to let them forecast in a more meaningful way.
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