the budget process yesterday vs. today
DESCRIPTION
XLerant took the vision of “make budget planning simple” and created what we believe is the best budget planning software product on the market today: BudgetPak.TRANSCRIPT
© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 1
BudgetPak… the future of budgeting….
© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 2
Yesterday’s Problem
Budget - (Fr.) bougette (purse
)- a list of all
planned expenses and
revenues.
© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 3
Consulting #5600300
Transportation #5700300
Office Supplies #5600300
Software #5960300
Hotel #5700344
Meals #5700333
Rent #5789000
Dues & Subs #5788300
Telephone #5700555
JanuaryFebruaryMarch April
TOTAL BUDGET
Back in the day…..
Rows of General Ledger Accounts
Columns of time periods
© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 4
VisiCalc, Lotus, Excel – the 80’s & 90’s
Columns of time periods
Rows of General Ledger Accounts
© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 5
Consulting #5600300
Transportation #5700300
Office Supplies #5600300
Software #5960300
Hotel #5700344
Meals #5700333
Rent #5789000
Dues & Subs #5788300
Telephone #5700555
JanuaryFebruaryMarch April
TOTAL BUDGET
Most Products on the Market Today
Rows of General Ledger Accounts
Columns of time periods
What’s wrong with this picture?
© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 6
The Beloved Rows and Columns
Consulting #5600300
Transportation #5700300
Office Supplies #5600300
Software #5960300
Hotel #5700344
Meals #5700333
Rent #5789000
Dues & Subs #5788300
Telephone #5700555
January February March April
TOTAL BUDGET
Consulting #5600300
Transportation #5700300
Office Supplies #5600300
Software #5960300
Hotel #5700344
Meals #5700333
Rent #5789000
Dues & Subs #5788300
Telephone #5700555
January February March April
TOTAL BUDGET
© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 7
The Grid Doesn’t Work Well
The “Garbage-In” Problem
People dislike budgeting
They don’t know how to budget (never had “Budgeting 101”)
Lack of Ownership
Frustrated by the mechanics
© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 8
Don’t take our word for it…..
• 2/3 of planning/budgeting software licenses purchased for non-finance managers go unused
• 44% of companies report catastrophic failure of anybody outside of Finance to use the system).
• 41% budgets are submitted with errors or omissions
• Only half of non-finance managers are Excel literate
• 90% of companies have failed to achieve “best practice” budgeting
© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 9
Getting everyone to cooperate
© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 10
What Finance is looking for
• Automate the process (to make it more productive)
• Robust reporting “out of the box”
• Departments do it themselves (and do it right)
• Give them the right tools – self serve in controlled environment
• Air tight approval workflow, roll ups & audit trail
• Easy access to the story behind the numbers
• Easy interchange of data
• Eliminate common errors and omissions
• One version of the truth
© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 11
What Managers are looking for
• Simple: Answer questions, respond to prompts
• Intuitive and personalized
• A system that thinks in business terms
• Automatically do the financial work for me
• Show me the impact of my budget decisions
• Allow me to make changes easily
© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 12
Sign contracts
• Kick off meeting (Finance, IT)
• 1 to 6 weeks configuration (typical)
• ½ Day a week time commitment (client side)
• Conference room pilot
• User training (1 hour)
• Full rollout
Implementation Timeline
© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 13
• Founders managed Financial Planning & Analysis (Pepsi, Kraft Foods, Reader’s Digest)
• Authored Value Planning (J. Wiley & Sons, 2000)
• Awarded 2007 Accounting software (by CT Tech Council)
• VC Funded (2007)
• 100% Referenceable Clients
XLerant
© 2008 XLerant, Inc., All rights reserved. Privileged and confidential information of XLerant, Inc. www.XLerant.com| 14
Christopher W. Nielson
700 Canal Street
Stamford, CT 06902
(P) 203 328 3787
www.XLerant.com
Contact Information