Budgeting and 
performance management systems 

Budgeting and performance management systems

Usage of budgeting and performance management systems (Enterprise Performance Management, EPM) at an enterprise enhances the business profitability by ensuring result predictability, transparency and conformity, as well as overall business structure regularity. 

Planning processes support solutions allow considerable saving of time spent to prepare budget plans and make it possible to create a planning, analysis, forecasting, and budget control tool. Furthermore, the accuracy of financial plans is ensured by the fact that not only a CFO but also all employees developing and performing the budget are involved in their preparation process.

The budget management system helps to plan costs, compare them with the actual items and analyze how current and future changes of the figures impact the company's financial standing. Application of the budgeting and planning system makes it possible:

  • to improve the efficiency of management solutions
  • to reduce the information acquisition and formatting time
  • to optimize the enterprise accounting system by changing the personnel's approach to the budget management process
  • to extend medium-term financial planning capabilities
  • to simplify the process of company's plans matching with budgets and forecasts through coordination of top-down planning with down-top forecasting and budgeting.
I.T. Co. offers the creation of budgeting and business efficiency management information systems based on the following products:
  • IBM Cognos TM1
  • Oracle EPM (Hyperion) 
EPM class solutions make it possible to implement in practice an activity organization concept based on the application of planning and budgeting, consolidation, analysis and monitoring tools.

Users have the possibility to see the overall organization model in the framework of their authorities overcoming the geographical, legal and financial borders. This is achieved due to the united global presentation of the overall financial and statistical information. 

Performance management applications support a wide range of financial and strategic performance management processes that makes it possible to reach high management standards.