CFO Budget and Spend (BAS)
Based on our federal customers’ need for a budgeting solution to enable a transition from spreadsheets and PowerPoints to a modern data centric solution, cBEYONData identified a commercial solution and federalized to solve this problem for our customers. The BAS solution enables organizations to collaborate in the planning development, review, approval, and execution of budgets through the organization on a single platform.
The CFO BAS
solution is a platform for budget formulation and execution, creation and management of spending plans, position planning and management, and executive dashboarding. The solution provides the following benefits to any federal budgeting organization:
Insights into industry best practices
and preconfigured components to meet the typical needs of federal budgeting organizations.
Enables budget formulation
which is integrated with the Spend Plan Application and payroll forecasting through an Employee and Position Planning module.
Enhances and automates
a wide range of planning, forecasting, consolidation, and financial reporting processes.
Improves budget preparation
when it is decentralized with inputs from multiple layers of the organization in a single secure database.
Equips budgeting organizations
to readily compare actual execution data against the plan and prepare budget reports to Congress.
The BAS solution puts the functions and information federal budgeting organizations need in one place and presents them in an easy-to-use interface. For example, the BAS interactive, performance and execution dashboard empowers users to visualize and monitor their organization’s performance and quickly drill down to explore the details of any variance.
CFO BAS is a combination of a packaged COTS application, optimized federal models for budget formulation and execution, and a flexible user interface.
The Traditional Approach
Budgeting organizations typically start
with a blank spreadsheet or a copy of last years’ budget or actuals. The challenges include:
Not an application,
so screens, forms, calculations, tables, and charts must be created manually.
is generally manual and error prone.
Mostly undocumented and unsecured
with little capability to maintain version control and enforce data integrity between multiple versions.
High likelihood of calculation errors and no synchronization across the organization.
No automatic integration
from sheet to sheet or workbook to workbook.
to integrate process flows and approvals.
across the organization.
The BAS Approach
The budget is developed within a secure, fully integrated multi-user application that:
Is an enterprise application to ensure accuracy, and user and data security out of the box.
Employs a centralized database enabling historical data, current year data, and future budget years data all to be accessed from the same source and is fully secured and auditable.
Provides pre-built input templates, reports, dashboards, logic, and process flows that support the federal budgeting process right out of the box.
Integrates with financial systems for accurate reporting and tracking of actual spending compared to budget.
Fully supports multiple versions, top-down and bottom-up budgeting, and easy roll up of details to summaries.
Professional documentation of the system.
Is easily deployed because of the preconfigured components built from years of experience working with the federal government.
The preconfigured templates, process flows, input screens, and federal-specific data (such as grade, step, locality, and spending codes) can be modified or expanded, and entirely new content can be created – all sharing the same technology and codebase.
Budgeting and Execution Performed the Right Way
The federal-specific functions and tools in the CFO BAS solution enhance the budgeting process to include:
User and administrative process flows
to guide users through the entire planning process of developing fiscal year budgets, rolling forecasts, and long-range planning.
Capability to seed plans
with year-to-date (YTD) actuals and prior budget and forecast data.
Ability to perform
robust monthly, YTD, or yearly variance analysis with commentary available at any level in the model.
Capability to enable
rolling and dynamic planning periods.
of data across all hierarchies in real-time.
Robust security model
keeps sensitive information safe.
This enables federal government budgeting organizations
to readily plan and track their budgets, focus on the gaps instead of developing a solution from scratch, and save time and money.
Check out these briefs and Contact Us
• Click here to view the CFO Control Tower Brochure PDF
• Click here to view the CFO Control Tower Capabilities Brief PDF
• Click here to view the CFO Control Tower Budgeting and Planning PDF
• Click here to view the CFO Control Tower NASA-SEWP PDF
• Click here to view the CFO Control Tower EULA PDF
• Click here to view the cBEYONData SAP Cloud Agreement PDF