NEUBRAINER, the official blog of Neubrain

Best Practices of High Performing Comptroller Organizations

Posted by Neubrain Communications

 

High performing Comptroller organizations can add tremendous organizational value beyond just financial transaction processing and audit readiness tasks.

By leading in the establishment of key processes, promoting enterprise-wide collaboration and a disciplined financial management culture, they can drastically improve the ability of an organization to achieve performance targets, strengthen the link between financial plans and strategic objectives, and enhance strategic decision-making.

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Topics: budgeting, forecasting, planning, best practices, performance management, budgeting software

Infographic: Key Steps to Transform Public Sector Budget

Posted by Neubrain Communications

As technologies advance, the global marketplace changes, and the economy ebbs and flows, it is apparent that traditional budgeting practices are becoming a relic of the past. With the right strategies and technologies in place, public sector organizations can develop a more strategic budget process...

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Topics: best practices, Business Analytics, Government Budgeting, Public Sector Budgeting, budgeting software

Budgeting, Planning and Forecasting Best Practices

Posted by Yana McConaty

It is a common mistake to assume that automation alone will bring necessary budget process improvements to an organization. Automating an inefficient or unintelligent bud­get process just makes the same process faster, not better.

The reality is traditional practices that govern budgeting, planning, forecasting, reporting and  risk management are becoming obsolete in the context of a fast paced digital marketplace and a volatile and uncertain global economy. Long established budget practices provide a false sense of security and fail to cope with the speed and volatility of today’s markets.

Additionally, the traditional budgeting process is widely de­cried, both by FP&A personnel—who must reconcile the requests from business managers with the targets handed down from the C-suite—and the business line managers they support—who view the budget process as a bureau­cratic exercise, a distraction from their job, a drag on their time, and a purely finance-driven process.

As you consider a new budget system, remember this is the optimal time to evaluate the strategies that can help your organization develop a more agile and intelligent budget process, use this process as decision making tool rather than a negotiation, and positively change your orga­nization’s perception of budgeting.

The following are a few strategies and best practices to consider:

 

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Topics: budgeting, forecasting, planning, best practices, performance management, budgeting software

Data Visualization and Software Dashboards Best Practices

Posted by Yana McConaty

Data visualization tools, like software dashboards, are becoming more popular and necessary to deal with exponential data growth. According to the industry research; however, dashboards have often failed or at best they delivered only a fraction of the insight that is needed to monitor the business. Why?

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Topics: best practices, dashboards, implementation

Park City, Utah Wins Performance Management Award

Posted by Neubrain Communications

We are so excited to announce our customer, Park City, Utah, has been recognized with a Certificate of Achievement from the ICMA Center for Performance Analytics for their performance management efforts!

“The certificate program recognizes the principles of performance management,” said Randall H. Reid, ICMA Director of Performance Initiatives. “Jurisdictions meeting the qualifications have demonstrated leadership in continuous improvement and community engagement, and they serve as examples for other governments to follow.”  

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Topics: best practices, Government Budgeting, Performance-based Budgeting, Public Sector Budgeting, Park City, ICMA

What Makes Budgeting Software "User-Friendly"?

Posted by Yana McConaty

Often times we see “user-friendly” as a key criterion in the evaluation of budgeting software products, or hear “we have implemented a new budgeting software, but it is not user-friendly”. A system's user interface determines how users interact with the system; therefore, it is a very important aspect of the total user experience with the system. But is it all about the interface or is there more to consider? What makes a system user-friendly: is it visually appealing interface design, or a familiar Excel-like interface, or maybe something else?

After seeing a lot of hype and confusion caused by software vendors positioning their products as the most user-friendly based on a some sort of feature: familiar excel interface, web-based or cloud-based (and therefore, somehow by default, user-friendly), Neubrain experts decided to shed some light on the topic and share key considerations in selecting and implementing a user-friendly budgeting system.

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Topics: best practices, budgeting software

New! Budgeting and Forecasting Software Selection Guide

Posted by Neubrain Communications

After many years observing organizations' budgeting and forecasting software selection and buying processes, we have discovered that many organizations, no matter their size, often jump into the buying process under that assumption that new software will be the answer to all of the organization's budgeting woes. While software can help improve an already well-established budgeting and forecasting process, software in and of itself is never the solution.

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Topics: budgeting, forecasting, software solutions, best practices, implementation, budgeting and finance, business processes, Budgeting and forecasting software selection guide

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Neubrainer 

neu·brain·er |n(y)o͞o brān ər|
noun

  • Neubrain’s official blog featuring expert advice, industry news and analysis, innovative ideas, and more. Did you read today’s post on Neubrainer?
  • An important tip or fact from Neubrain experts; Improve cost-efficiency and foster interdepartmental communication by implementing a performance-based budgeting solution-- it’s a Neubrainer.