A large enterprise with an annual budget over 150 million had various issues with budgeting and forecasting as well as with streamlining the process of budgeting. For instance, the Information Technology team used spreadsheet-based templates to capture budgets while the Corporate Finance team collated all data into a single file on a need-basis.
Hexon designed an elegant and easy to use web application that brought together all the cost centre operators into a single platform to perform annual budgeting and forecasting. The system integrated with the ERP system that was operated in-house to pull the actuals in terms of labour costs, depreciation of assets, and other direct costs, thereby effectively providing a single window through which all cost centre owners could observe how their budgets were being used and forecast the future effectively. This also allowed the system to deliver an accurate return on investment. In addition, the increased degree of transparency significantly prevented wasteful spending.