Importance of a Budgeting Software for Business Continuity Planning

02.04.20 05:48 AM By admin

Every business today is faced every day with the threat of disruption and constant change.

 

Business continuity planning is all about planning and taking active preparations to ensure your business can deal with and continue functioning throughout a disaster or crisis with minimal disruption. 

 

For financial organizations, the focus shouldn’t just be for accounting functions but to ensure the business can thrive throughout any adversity. Every CFO knows how important it is to continue thriving throughout these uncertain times. Therefore, it is crucial to start adopting a scalable financial solution that gives them the flexibility to respond rapidly to the threat of disruption. 

 

Data from Gartner shows that only 35% of businesses have a comprehensive disaster recovery plan in place, which includes being equipped with the right software to manage this change. 

 

CFOs and other financial professionals need to have access to the right technology that allows them to be more competitive in today’s business environment. 

 

A scalable budgeting software like Epicor Financial Planner empowers these organizations with the ability to innovate and proliferate. 

 

Below are a few reasons why you need a budgeting software to plan for your organization’s business continuity. 

 

Protect Essential Business Functions 

 

Your accounting and finance department is the backbone of your business and provides the support that managers and all other departments need to perform their functions well. Ensuring your financial budgeting process is set up to thrive in whatever circumstance is paramount. 

 

A Cloud ERP add-on module like Epicor Financial Planner is global-ready, which means you can access your data securely across your entire value chain and help your team make critical decisions confidently. 

 

Provides Risk Assessment and Analysis 

 

In difficult times, future-ready businesses can implement the right strategy that helps control risk and drive business performance. 

 

Epicor Financial Planner is a complete cloud-based financial software that provides an integrated solution for generating actuals, budgets, reports, and live forecasts so your finance team can make crucial decisions on time. It also features task automation to minimize and simplify long workflows, and it provides a unified system for security, access, and workflow distribution.

 

It plays an essential role in business continuity planning to identify the effects of disruption on business functions and processes. It also provides finance departments with real-time data and forecasts to make decisions about recovery priorities and strategies.

 

Helps Reduce Downtime 

 

In the US, businesses lose over 12 billion per year because of data loss. Investing in a budgeting software and an Enterprise Resource Planning (ERP) software ensures your data is backed up in the cloud. A cloud ERP system + a cloud FP&A software safely stores and manages critical data in the cloud. In these volatile times, cloud ERP paired with competent cloud FP&A software provides better business agility as compared to some organizations that may host their system on-premises or, worse, those organizations that work out of Excel spreadsheets.

 

They need advanced, globally-connected, and continuously updated software tools and systems that allow them to focus more of their time and energy on implementing growth initiatives and less on day-to-day IT management. That’s where cloud software comes into play.

 

Epicor Financial Planner: Your Business Continuity Planning Budgeting Software 

 

In these volatile times, you need to be proactive in choosing a cloud-based budgeting software that helps you keep your accounting functions business as usual. It is important to ensure that your finance department adopts the right software that allows you to mitigate risk and minimize disruption. 

 

Epicor Financial Planner is your partner software in your business continuity planning. It has all the advance features you need to be more agile in securing your assets, protecting your staff, and safeguarding your business. 

 

Are you looking for a cloud-based budgeting software that you can easily integrate into your business continuity planning strategy? Get in touch with us today. 

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