One of the most common "functions" of ERP and CRM systems is the ability of storing budgetary data or revenue objectives. However, storing the final budgetary figures is not the main pain point of the Budgetary process. Instead, properly and fully enabling the process of 1) proposing, 2) negotiating, 3) consolidating, 4) assessing and 5) finalizing the budget is the main issue that is not remotely contemplated within any ERP or CRM system.
For this reason, over 80% of organizations rely on Excel to gather, consolidate and reach the final budgetary figures. These organizations experience "Excel hell" when they find that Excel is flexible, but creates many unforeseen problems with regards to reliability, data integrity and security - just to name a few. It is clear that neither Excel nor ERP systems, by definition, will ever properly enable the budgetary process on their own, or in combination. A whole new approach is required and for this reason, budgetary models in BI360 can help.