Isidore built and maintained a new Internal Budgeting Software solution
The Australian Government Department of Finance performed their budgeting using Microsoft Excel, as many businesses did in the late 90's/early 2000s.
Using Excel provided great flexibility but also meant that changes to workbooks made consolidation and auditing an administrative challenge. It also meant that updates were very dofficult and there was no summary until all workbooks had been consolidated.
On request of the Department Isidore built a web based solution as an interim while the DEpartment looked for an off-the-shelf solution. Isidore implemented our Budgeting solution with
all of the intricacies required by DoFA.
Being web based, it allowed for easier deployment, maintenance and instant real time analysis and reporting. Isidore's solution reduced the time required to collect, consolidate, report and analyse their budget
data for their intial budget from a 3 month period to a 2 week process. Communication during the budgeting process between the users deriving the individual cost centre budgets and corporate finance was vastly
improved with the CFO being able to see the live Budget being built as users entered their data.
Integration with SAP, QSP and COGNOS has enabled their Budgeting Processes to be fully integrated with their existing Financial Management Systems. Isidore has been in use since 2001 and is used by over 150 staff.
Isidore continues to support DoFA and adapts the solution to meet their ongoing and changing needs.
The project to build the software took 9 months and was on time and on budget. This was one of the first web-based solutions for the Department in 2001. The Department used the solution for 16 years!
The Department now has a robust system which has:
- Reduced the effort required to budget by more than 70%
- Instant LIVE consolidation
- Increased system up-time to 100%
- Improved access to data
- Improved speed of system
- Improved audit-ability with all historical data available immediately
- Low risk
- High Data Quality
- Become a single source of truth accessible by all valid users anywhere on the network
The solution features include:
- Loading of data from Excel via a live link
- Staff data managed via the Employee module
- Collation of data from multiple sources
- Integration with internal HR and Finance systems
- Exports to Excel
- Live on screen and printed and exported to Excel reporting
- Live Excel linked reports
- Configurable System Settings