The Importance of Easy, Powerful, Fast Tools for Budgeting in Government

 In Blog

The purpose of a financial forecast is to evaluate the present and future state of an entity’s finances. These forecasts, however, have evolved, making the requirements for success higher than ever before. In order for financial forecasting and budgeting to be successful in local government, it is essential to have easy, powerful and fast tools.

Our easy-to-use software allows us to provide budgeting and forecasting tools that meet this criteria and exceed jurisdiction’s expectations. Thanks to a fast implementation process and platforms that allow for increased collaboration, it takes jurisdictions days, not years to see positive results after their budgeting and forecasting processes.

Easy

As much as government employees want to try to come up with accurate budgets at the beginning of every year, it’s essential to remember that budgets tend to be as dynamic as the finances of any other institution.

Through GovSense, jurisdictions have found easy tools that:

  • Keep the budgeting process as simple as possible
  • Help them make more accurate decisions while also embracing change
  • Consider all the potential drivers that could affect the final budget

Powerful

When local government takes advantage of tools with powerful features and functions that offer excellent value, the results of their budgeting and forecasting processes are not only much faster and efficient, but they also provide increased accuracy.

Through our partnership with Adaptive Insights, we provide the ability to accurately view revenue sources and forecast accordingly.

Fast

Government employees often find themselves drowning in paperwork and pressured by deadlines that insist they work harder instead of smarter. The solution? Tools that help them come up with budgets in a fast, yet accurate manner.

Jurisdictions that have adopted the right tools to speed-up their budgeting process also have:

  • Discovered automatic ways to gather relevant, up-to-date data
  • Decreased the amount of necessary resources to retrieve this information
  • Been able to better communicate throughout departments, providing a unified view of their finances

When you think about the last time you came up with your annual budget, ask yourself:

  • How many data sources did you need to fulfill your budget?
  • Did you have to enter the same data multiple times?
  • Did it take you longer than you had originally estimated?

To learn more about GovSense and how our tools can help jurisdictions understand their financial status and make better decisions through forecasting with easy, fast and powerful tools, contact us at info@govsense.com.

 

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