Budget, forecast and planning solution at Faxe Municipality - “Forventet regnskab”
Faxe Municipality chooses Jedox to automate and streamline the municipality’s processes and improve the ease of use of the recurring budget follow-up, which is called “Forventede regnskab” at the municipality.
It’s complicated and hassle with the many spreadsheets
Faxe municipality has trough many years build a complex spreadsheet model to collect the municipality’s “forventede regnskab” for the rest of the year. A process for each budget manager is going to forecast the expatiations for the rest of the year. All forecast expectations are collected, validated, consolidated and eventually loaded into the financial system. This concludes by making special reports containing key figures and explanations which together must be reports to the executive board and the politicians.
A task with many manual and labor-intensive processes that contain many error options when retrieving/ updating data and spreadsheets. There is also a great deal of work in preparing and adapting spreadsheets for a new budget for a new budget follow-up round for “Forventede regnskab”
At the same time, the Excel models present challenges in managing budget follow-up versions – for example, who has changed what and when and what and what explanations and comments belong to which versions. What was commented on 6 months ago? This is not something that is directly accessible if it is to be analyzed on history (previous performance)
