1. Planning, Budgeting and Forecasting
For the planning, budgeting and forecasting process, our analysis revealed
that companies using ERP have lower median cost and improvements in
the cycle time to complete the annual budget cycle (see Figures 5 and 6).
They also show a significant improvement in productivity regarding the
collection and manipulation of budget data and higher frequency in
preparing financial forecasts (see Figures 7 and 8). This substantiates that
organizations that have adopted a common technology platform spend less
time collecting and reconciling data, and more time discerning valuable
insights and allocating resources.