Isidore's Internal Budgeting Software solution including live actuals and Forecasting
Geoscience Australia (Geoscience) typically reached the limits of the use of spreadsheets to perform their Budgeting. They searched the market for a solution and decided on using Isidore to provide a solution to reduce the time required to Budget.
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.
Isidore provided Geoscience with our Budgeting solution which performed the same functions as their existing spreadsheets, was as easy for non-accounting managerial staff to use and was centralised with their Finance staff so they could open and close access immediately and view the budgets as they were being entered by staff.
The time required for Geoscience to collect their budget information was reduced from several months to two weeks, it was easy enough for all staff levels to use (including scientific staff), there was no duplication of data entry and Financial staff were freed up to perform analysis instead of collection activities.
Utilising the flexibility of Isidore, this assisted Geoscience to move to performing Forecasting, which would have previously been virtually impossible. Isidore now automatically integrates with Oracle (Geoscience's Financial Information Management System) so actuals are automatically loaded into Isidore each month, and relevant reporting can be performed for ongoing analysis.
The Department now has a robust system which has:
- Reduced the effort required to budget by more than 70%
- Instant LIVE consolidation
- Ease of use for non accounting staff (scientists)
- 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:
- Rolling monthly forecasting
- Staff data managed via the Employee module
- Collation of data from multiple sources
- Integration with internal HR and Finance systems
- Exports to Excel
- PBS and outcome reporting
- Live on screen and printed and exported to Excel reporting
- Live Excel linked reports
- Configurable System Settings