In addition to focusing on predicting the value of economic variables that are key to the profitability, success and future operations of the company, financial planning is also a tool for performance assessment and an essential factor in adapting flexibly to the external environment. Its aim is to ensure that companies make their most important financial decisions with a long term perspective, based on professionally sound planning tailored to the company itself.
Annual Planning
The most important classification criteria of planning are the planning horizon and the pace of implementation. Financial planning is performed in the Annual Planning module of the QAD Enterprise Applications. In the module the content, levels and steps of planning can be defined.
The annual sales plan, the general ledger plan and the planned prime cost are defined, supporting the company to devise well-founded plans.
Financial plans should be more than just forecasts, but need to be based on forecasts. In addition, the necessary steps to be taken by the company in specific situations should also be included.
With QAD Enterprise Applications companies can devise comprehensive annual plans, which makes it possible for them to deal with the changes they face.
Finance Analyzer
Management activities in every field, whether in statistics, public administration or economy, gather and pile up a large amount of information. In the course of the operation of an enterprise using an ERP solution, a vast amount of data is generated. Accumulated data in themselves are not enough for obtaining relevant information and making optimal decisions.
The sheer size of data collection has led to a new term, used in scientific publications for the issue of managing accumulated data: the Big Data problem. The problem stems from the fact that obtaining important and relevant information from the vast amount of data collected is now far more difficult and requires far more resources than collection.
With the Finance Analyzer solution of QAD Enterprise Applications, it is significantly simpler and faster to use the body of data the company has accumulated in accounting and controlling. Finance Analyzer is a flexible reporting tool, which can be used to display general ledger transactions generated in the course of the company’s operation and elements of the budget plan in any number of ways. Accordingly, many kinds of reports can be created in the solution, from balance sheets to profit and loss accounts, to cash-flow reports and individual controlling reports of the company.
Reporting is significantly simpler with the solution, saving time for colleagues in accounting and controlling, and increasing effectiveness in the company.
