I've been asked to take a step back and talk a bit more generally about budgeting software, so here's a quick summary of the budgeting software market along with a survey that will help quickly assess if your company will benefit from this exciting technology.
Roughly 70% of companies use spreadsheets as their primary platform for budgeting. Many companies are no longer satisfied with spreadsheets. Enter "Budgeting Software"
Budgeting Software Defined:
Software designed to streamline the budget process and reduce errors inherent in spreadsheet modeling.
Do I Want It?
The question is not why do “you” want it. The question is will your company benefit by introducing a new budgeting software solution.
Your Free Budgeting Software Market Overview:
You can purchase market overviews from third party analyst firms, hire a consulting firm to do market research, or spend days browsing the web yourself.
Better Yet: Take 40 seconds and see the results right now.
The simplest way to initially understand the budgeting software market is to break the market into 3 groups**
Group 1: I want to spend less than $10,000 on the total project
- PlanGuru
- Budget Maestro by Centage
- BudgetPak by Xlerant
Group 2: I want good software and a quick set-up, but want to keep costs down
- Adaptive Planning
- Prophix
- Host Analytics
Group 3: I am willing to wait a year before the budgeting model is implemented and price is not an issue
- SAP/BPC
- Oracle/Hyperion/Planning
- IBM/Cognos/TM1/Cognos Planning/Clarity
**Please note I am not recommending any of these vendors nor am I claiming that this is a complete list.
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