NEUBRAINER, the official blog of Neubrain

Top Hurdles of Spend Analytics

With the stagnant economy, cost control has become the new mantra of every business. Businesses are deploying various strategies to contain costs and maintain profitability. Amongst such strategies is control and visibility into spending with external suppliers.

Spend analytics is the process of aggregating, cleansing, and analyzing corporate spending data for the purpose of reducing costs and improving operational performance. According to industry analysts, businesses deploying spend analytics have been able to reduce spending by 12% based on weighted average. If spend analytics is so critical, why are organizations facing difficulties?

Here are top hurdles to deploying a spend analytics capability that you need to know about:

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Topics: industry insights, methodology, reporting, Spend Analytics

Core Capabilities of Successful Budgeting, Forecasting and Performance Management Solutions

Posted by Neubrain Communications

Budgeting, forecasting and performance management is a difficult process for organizations, not to mention reporting on results can be challenging, regardless of size or industry. Enterprise planning is critical for managers that contribute to the overall success or failure of a program, project or product, especially in good and bad economic times. Despite the importance of accurate forecasting, budgeting is often seen as a demanding and inefficient process. Yet forward-thinking organizations see integrated planning and performance management solutions necessary to compete.

Earlier this month, Aberdeen Research released the results of their 2014 Financial Planning, Budgeting, and Forecasting and Enterprise Performance Management Benchmark Survey. The survey sought to discover the best practices and technologies used by organizations that are successfully navigating the financial planning, budgeting and forecasting process. So, what did the survey reveal?

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Topics: budgeting, forecasting, Neubrain, consulting, software solutions, industry insights, best practices, performance management, tools, budgeting and finance, business processes, government budgeting software

How To Solve The Biggest Problems With Budget Software Selection

Posted by Neubrain Communications

Many government agencies and private corporations are nearing the end of the 7-10 year average lifespan of most budgeting and performance management software systems, causing more and more CFOs to explore new budgeting and performance management technologies. In fact, according to the “2013 Gartner Financial Executives International (FEI) CFO Technology Study,” nearly 60% of CFOs indicated that investing in analytics and decision-making was their top priority, as it should be.

In the past decade, budgeting and financial planning technologies have transformed from error-prone manual data entry tools to an array of advanced analytical, integrated, and sophisticated real-time budget management software solutions, improvements that are only making the software selection even more difficult. Recent independent research revealed the top three software acquisition impairment factors:

Lack of user input
Incomplete requirements and specifications
Changing requirements and specifications

To overcome software acquisition impairment, it is imperative to put time, effort and thought into your software selection process and establish quality requirements.

Click on the infographic and discover just how important detailed, thought-through QUALITY requirements are to your budgeting software selection process or read the complete list here.

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Topics: budgeting, software solutions, industry insights, best practices, Government Budgeting, implementation, budgeting and finance, business processes, government budgeting software, budgeting analytics

Introducing Our NEU Blog!

Posted by Neubrain Communications

Here at Neubrain, we spend a lot of time working one-on-one with our clients providing advice and insight on how they can leverage technology to improve their analytical and decision-making capabilities. Our consultants are overflowing with information that they are eager to share with the world…and that is how NEUBRAINER was born.

NEUBRAINER, the official blog of Neubrain, LLC, connects you directly to our experienced team as they provide industry insights, advice on best practices and offer recommendations for improving and optimizing business processes or analytical models.

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Topics: Neubrain, Neubrainer, consulting, software solutions, industry insights, best practices

NEUBRAINER, the official blog of Neubrain

Top Hurdles of Spend Analytics

Core Capabilities of Successful Budgeting, Forecasting and Performance Management Solutions

How To Solve The Biggest Problems With Budget Software Selection

Introducing Our NEU Blog!

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