What is need of BPC, Reasons Behind selecting BPC
Some of us working on BPC, and some people showing interest to learn BPC, Their are some reasons.
Their are so many reporting tools in market but what is specific reasons behind selecting BPC. I know some of them if any one add something please feel free to add point to this blog.
• Reduce planning and budgetingcycles
• Improve forecast accuracy
• Accelerate and automate the financial close
• Lower compliance and auditing costs
• Intuitive interfaces – Leverage Microsoft Excel, Word, and PowerPoint and Web-based interfaces.
• Business process flows – Enable consistency and visibility
• Top-down and bottom-up budgeting – Align budgets with targets
• Automated consolidation capabilities – Speed the financial close
• Management and statutory consolidations – View financial data based on reporting requirements
• Compliance and auditing – Comply with regulations and standards such as GAAP and International Financial Reporting Standards
• What-if analysis and scenario planning – Model different scenarios to assess potential outcomes
• Variance reporting – Compare plans versus actual results and determine causes of variances
• Reduced planning and consolidation cycle times thanks to more reliable, timely financial data
• More accurate plans, budgets, and forecasts due to collaboration and accountability
• Increased stakeholder confidence with a fast and accurate financial close
• Minimized compliance risk with accurate reporting that meets statutory requirements
• Improved data quality through a central data repository
Hope this helps,
Saida Reddy G