MARKHAM, Ontario, July 1, 2013 /PRNewswire/ — Core Analytx www.coreanalytx.com, a provider of software-as-a-service (SaaS)-based business intelligence (BI) services for small-, medium-, and enterprise-size businesses, offers a viable and affordable solution to the multitude of budget planning and forecasting challenges with spreadsheets alone through the company's Core Planning module. Core Planning is a key component of Core Analytx's entire suite of BI solutions.
Budget planning and forecasting – especially for small- to medium-size financial institutions and insurance providers – can be a detailed and time consuming process. Relying on spreadsheets alone can also make these tasks daunting and resource intensive.
According Aberdeen Group's recent Financial Planning, Budgeting, and Forecasting survey, 25 percent of the respondents indicated that the top pressure pertaining to budgeting and forecasting is that they take too long and require too many resources.
Functionality is paramount to a successful budget planning outcome. Using traditional spreadsheets alone, business teams struggle with realistic ways to collaborate on any given segment of the budget planning and forecasting process. Core Planning allows team members to simultaneously work on various aspects of a specific plan or forecast and collaborate more easily.
In addition, with spreadsheets, there is no way to control audit procedures and gauge who made which changes and when. Core Planning tracks who logged on and when to keep a real-time record of budget planning and forecasting updates.
The ability to create "what if" scenarios is also an important consideration, and Core Planning provides a formula creation tool using sliders, for example, to help forecast profitability. A company can input its current sales numbers each month or quarter, or even as often as weekly, and by analyzing its revenue versus current expenses, throw in added labor costs or changes in facilities to see how these adjustments will impact future profitability.
Using a solution like Core Planning makes it easy to import spreadsheets that many departments depend on for planning and budgets, as well as allowing for role-based access within a web interface. Planners and managers can view and share template-based or ad-hoc reports, including those with complex measurements, such as balance sheets, cash flow reports and statement of earnings.
"Core Analytx's suite of business intelligence solutions simplifies business analytics and reduces the amount of time it takes to gain access to real-time data so that companies can make informed decisions," said Zunaid Haroon, President and Founder, Core Analytx. "Small to medium-size companies simply can't afford to invest $500,000 and up on a high-end BI program and need an affordable solution, such as Core Planning, to conduct what if scenarios, manage audit compliance requirements, and collaborate real-time on the management of their sales and revenue data."
About Core Analytx
Core Analytx, headquartered in Markham, Ontario, Canada, encourages, assists and guides companies to drive business strategy and execution by implementing powerful analytics centric processes. The company's products and solutions are simple to use and enable a wide range of businesses the ability to provide objective decision support. Core Analytx's products and solutions are designed for rapid implementation and quick roll-out of business intelligence solutions in days, versus weeks or months.
For more information, visit www.coreanalytx.com.
Media Contact:
Zunaid Haroon – President and Founder
Phone: (800) 514-8022