Budget Escalation
Effortlessly Manage Budget Escalations with Precision and Speed
The Challenge
Treasury budget escalations posed significant hurdles for finanace teams:
- Extensive manual calculations required
- Time-consuming process of loading adjustments or updating original budget values
- Tight deadlines for completion and balancing before submitting updated budgets to Treasury
Our Solution
Decision Inc. developed a comprehensive system featuring:
- Automated capture and application of Treasury escalation rates
- Flexibility to include/exclude specific programs (FUND/WBS)
- Detailed reporting of pre/post escalation values
- Individual, auditable journal entries for each escalation adjustment
- Version-based process allowing multiple iterations, test versions, and alternate scenarios
Key Benefits
- Time Efficiency: Automatic process with email notifications and Excel summaries
- Scalability: Capability to run single or multiple year scenarios (10-year run typically completes in 30 minutes)
- Accuracy: Automated updates to the Budget model with escalation adjustments
- Flexibility: Allows for further adjustments, updates, or selective deletion of entries
Wider Government Application:
Our solution offers broad adaptability across government agencies:
- Easy modification to suit different General Ledger and Cost Centre structures
- Independence from specific ERP systems
- Leverages structures within Adaptive for maximum flexibility
This system addresses common challenges in budget escalation processes while allowing for agency-specific customisations, making it a versatile solution for various government entities.
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