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Some economists call finances the 'blood', without which vital activities of any company are not possible. Often proper budget and financial document flow management provides profit and success for a company. It has long passed away the time when the scores, calculator, and then Excel tables, were the major financial instrument.
As per some leading financial specialists the usefulness of budget figures is defined by their dynamic and ability to adapt to changing business conditions and their connection to other figures which set the development of business. Thus, the best instruments for business management become budgeting systems integrated in the structure of a complex system for electronic document management.
An example of such system is SED bb workspace (developer Double B), where bb budget is one of the functional blocks (or as developers call it - visual layer). BB budget is the system which allows:
- to organize financial electronic document flow (flow of limits and applications, its gradual confirmation and sign)
- to develop and set up the budget structure fully compliment with the company's activities
- to estimate income and expenditures, make links between them and assess the financial performance of different branches and the whole organization
- to integrate a smart complex system of electronic document flow with accounting program and the system of automated inventory control.
Not long ago American financiers developed criteria for comparing and evaluating different budgeting systems. The basic ones are:
- intuitively clear interface, equally understandable for employees of both financial and operating departments
- possibility of flexible detailed analysis, instant adjustments and operational multidimensional analysis
- complex reporting
-systemic integration with other management tools
After analyzing the bb workspace system with the visual layer bb budget we can notice that this complex SED not only provides office automation, but also makes the budget processes simple and clear for the management. On the basis of obtained results it is possible to complete the analysis and to make a decision.
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