Enabling Budget Resilience with Scenario Planning Tools from Phocas

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  1. 3 Ways to Handle Compensation Budget Imbalances Caused by Org Moves

    Learn the pros and cons of options for budget reallocation – manual and automatic – when you cannot postpone the movement of staff during a compensation planning period. Key Concept For many organizations, the compensation planning period is aligned with the end or beginning of their fiscal year. This is a time when many transfers,...…

  2. Introduce Budget Availability Control into Cost Center Accounting

    Learn how you can configure budget availability control for your Cost Centers with simple customizing steps. Key Concept Budget availability control in the managerial accounting (CO) and Project System (PS) modules is a standard SAP functionality that automates budget control through warnings and error messages. It also can send notification emails automatically to respective budget...…

  3. Capitalize Assets with Budget Monitoring Using Statistical Internal Orders

    See a method of direct capitalization with budgetary control that eliminates the need to post to the internal order and settle it. This method is best suited for simple budget monitoring of certain groups of assets — for example, lump sum budgets for furniture and fittings. Key Concept In an SAP system, assets are capitalized...…

  4. Use Document Types for Budget Availability Control in SAP PS

    See how, why, and where you can configure budget availability control based on document types to improve your project controlling efficiency with a standard SAP system. Key Concept Budget availability control in the Managerial Accounting (CO) and Project System (PS) modules is a standard SAP functionality that automates budget control through warnings and error messages....…

  5. Manager Self-Service’s Monitors Send Budget Alerts to Managers

    As part of a series on Manager Self-Service (MSS), the author takes a closer look at the various monitors that alert managers before budgets are overrun. The alerts are based on rules the finance department or managers define. In this article, which is part of a series on Manager Self-Service (MSS), I will take a...…

  6. Streamline Budgeting and Planning with Accurate, Timely Data

    Successful planning and budgeting requires insights based on accurate data. Gaining this insight can be difficult, however — organizations often rely on outdated processes that do not deliver timely, accurate insights. Discover how a business planning approach that focuses on consolidating data, modeling forecasts, and automating budgets can help you develop reliable reports and improve…

  7. Enabling Budget Resilience with Scenario Planning Tools from Phocas

    Reading time: 3 mins

    Scenario planning process is often seen as time-consuming, leading to insufficient utilization and limits organizations’ capacity to prepare for or respond to changes. Many finance teams find themselves hamstrung by the limitations of their SAP ERP systems when attempting to implement effective scenario planning, a critical component of strategic budgeting and forecasting. The traditional reliance…

  8. SAP Compensation Administration Application Supports a Total Compensation Strategy

    The Compensation Administration (CA) application in R/3 is designed to link employee performance with company goals. In this first article in a series, the author explains how to prepare for a CA implementation. Using the example of a management incentive plan, she shows how to budget for a compensation/award plan. Over the past decade, the...…

  9. Achieve Budgetary Control of Unplanned Service Procurement and Projects Using Value Limit Strategies

    Learn how to use different value limit strategies to control spending on unplanned service procurement and budgetary allocation for projects. Key Concept Value limit is a functionality within purchase requisition and purchase order (PO) documents that can be applied to set a benchmark value for a project or service procurement if the cost and possibly...…

  10. Leveraging SAP Business One ERP and Phocas for Live Budgets and Forecasts

    Integrating a planning platform with SAP Business One enhances finance with real-time data and better collaboration.