GlowByte moves budgeting model for internal business needs from Google Sheets to Optimacros

2024: Implementation of a budgeting model for internal business needs

GlowByte implemented a budgeting model for internal business needs based on the the Russian platform. Optimacros Earlier in GlowByte, the budgeting process was carried out Google in Sheets. Glowbyte announced this on February 28, 2024.

Automation made it possible to conduct multi-price planning, as well as compare different scenarios and versions of the plan with each other. In addition, the system implements a mechanism for reconciling plan/fact in the context of items, companies, Central Federal District, type of expense and type of participation in indirect rates. The final step in the process is reverse integration, which uploads the necessary data to other accounting systems at the request of the user.

The project lasted 8 months and included the transfer to Optimacros of the full cycle of budgeting: work with key parameters, calculations of back office costs, including PHY, calculations of revenues and expenses of the front office, information on the final PL and CF in the reporting currency and currencies of jurisdictions, as well as calculation of the indirect cost rate based on all sets. The 2024 budgeting cycle was successfully carried out in a new solution. The process participants quickly adapted to the system, despite the fact that the implementation ended before the start of the budget campaign.

The Google Sheets tool gave us a certain freedom of action, but at the same time caused some inconvenience: the finance department had to reduce the budgets of various financial responsibility centers into a single format for a long time. When we realized the need for change and came to our internal Financial Intelligence team, specializing in the implementation of financial solutions, with a request to automate our business process, they, having studied its specifics, proposed to carry out automation on the domestic Optimacros platform. said Anna Malygina, associate CFO of GlowByte.

Anna added that colleagues from Optimacros with a demo model for a similar business case on this platform, and it became clear that this software meets the needs. One of the main arguments in favor of Optimacros was also that in the future it can be finalized independently without the need to master complex programming languages. This feature of Optimacros was extremely important for the financial service, since the budgeting process does not stand still, is constantly improving, developing, and it was necessary to choose such a product that, after implementation, would allow the finalization of business logic by financiers on their own.

During the project, a different approach to maintaining a budgeting model in terms of Central Federal District expenses was developed through the joint efforts of the finance department and the Financial Intelligence GlowByte team. He made it possible to set up the process in such a way that all Central Federal District planned their expenses in a single format, but at the same time that everyone in this format had only indicators that were relevant for him.

In addition, a mechanism for step-by-step coordination of budget indicators in Optimacros was introduced with the automatic sending of messages to e-mail to process participants. The system allowed you to configure a flexible role model in which accesses are adjusted not only depending on the role, but also on the additional setting of rights for specific users.

Шаблон:Quote 'author = noted Maria Varcheva, CFO of GlowByte.