A lot of CFOs and controllers think that the budgeting and forecasting process takes up too much time, which could be better used for more forward-looking work. Often, the same applies to work on following up KPIs, and on getting an overview—how do we actually do it, and how do things look ahead? These challenges are highly relevant in the consulting sector.
They might relate to difficulties in budgeting and forecasting processes, but just as likely, are about dependency on Excel and the manual processing necessary to reconcile accounting data with resource planning and time reporting. Hypergene currently has several clients in the services and consulting sectors including Imtech, hi-tech product developer and automation specialist Prevas and construction project manager Forsen Projekt.
Where Hypergene can make a difference for services and consulting firms:
- Streamlining how managers and staff set up budgeting and secure a continuous overview of actuals—financials, as well as resource and utilization levels.
- Avoiding manual processing and quality risks in KPIs with a system that integrates and collates information from multiple data sources.
- Creating simpler, more effective planning and monitoring of resources, customers and projects, in terms of consultants, hourly rates, external consultants, subcontracted consultants, etc.
- The facility for utilizing forward-looking rolling 12-month forecasts to avoid inaccurate budgeting in fast-changing operations.
- Easily enhancing the quality of monthly reports by continuously capturing comments from operations, such as team and business unit manages—creating superior analysis of actuals, and looking forward in terms of utilization status, resource needs and order backlog.
- The facility for performance management by distributing overall plans, targets and KPIs through the organization, who can then take a view on, and define, those activities that contribute to the complete picture. Staff can also report back, comment and amend the status of the processes they participate in.