Download - The Budget Process Yesterday vs. Today
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© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 1
BudgetPak… the future of budgeting….
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© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 2
Yesterday’s Problem
Budget - (Fr.) bougette (purse
)- a list of all
planned expenses and
revenues.
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© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 3
Consulting #5600300
Transportation #5700300
Office Supplies #5600300
Software #5960300
Hotel #5700344
Meals #5700333
Rent #5789000
Dues & Subs #5788300
Telephone #5700555
JanuaryFebruaryMarch April
TOTAL BUDGET
Back in the day…..
Rows of General Ledger Accounts
Columns of time periods
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© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 4
VisiCalc, Lotus, Excel – the 80’s & 90’s
Columns of time periods
Rows of General Ledger Accounts
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© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 5
Consulting #5600300
Transportation #5700300
Office Supplies #5600300
Software #5960300
Hotel #5700344
Meals #5700333
Rent #5789000
Dues & Subs #5788300
Telephone #5700555
JanuaryFebruaryMarch April
TOTAL BUDGET
Most Products on the Market Today
Rows of General Ledger Accounts
Columns of time periods
What’s wrong with this picture?
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© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 6
The Beloved Rows and Columns
Consulting #5600300
Transportation #5700300
Office Supplies #5600300
Software #5960300
Hotel #5700344
Meals #5700333
Rent #5789000
Dues & Subs #5788300
Telephone #5700555
January February March April
TOTAL BUDGET
Consulting #5600300
Transportation #5700300
Office Supplies #5600300
Software #5960300
Hotel #5700344
Meals #5700333
Rent #5789000
Dues & Subs #5788300
Telephone #5700555
January February March April
TOTAL BUDGET
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© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 7
The Grid Doesn’t Work Well
The “Garbage-In” Problem
People dislike budgeting
They don’t know how to budget (never had “Budgeting 101”)
Lack of Ownership
Frustrated by the mechanics
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© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 8
Don’t take our word for it…..
• 2/3 of planning/budgeting software licenses purchased for non-finance managers go unused
• 44% of companies report catastrophic failure of anybody outside of Finance to use the system).
• 41% budgets are submitted with errors or omissions
• Only half of non-finance managers are Excel literate
• 90% of companies have failed to achieve “best practice” budgeting
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© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 9
Getting everyone to cooperate
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© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 10
What Finance is looking for
• Automate the process (to make it more productive)
• Robust reporting “out of the box”
• Departments do it themselves (and do it right)
• Give them the right tools – self serve in controlled environment
• Air tight approval workflow, roll ups & audit trail
• Easy access to the story behind the numbers
• Easy interchange of data
• Eliminate common errors and omissions
• One version of the truth
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© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 11
What Managers are looking for
• Simple: Answer questions, respond to prompts
• Intuitive and personalized
• A system that thinks in business terms
• Automatically do the financial work for me
• Show me the impact of my budget decisions
• Allow me to make changes easily
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© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 12
Sign contracts
• Kick off meeting (Finance, IT)
• 1 to 6 weeks configuration (typical)
• ½ Day a week time commitment (client side)
• Conference room pilot
• User training (1 hour)
• Full rollout
Implementation Timeline
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© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 13
• Founders managed Financial Planning & Analysis (Pepsi, Kraft Foods, Reader’s Digest)
• Authored Value Planning (J. Wiley & Sons, 2000)
• Awarded 2007 Accounting software (by CT Tech Council)
• VC Funded (2007)
• 100% Referenceable Clients
XLerant
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© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 14
Christopher W. Nielson
700 Canal Street
Stamford, CT 06902
(P) 203 328 3787
www.XLerant.com
Contact Information