Your fast track to Innovation Excellence
Financial Budgeting, Forecasting and Tracking

Many organizations struggle to combine their annual budgeting cycles and capital approval process with their strategic planning and portfolio management process. At best, the result is a lot of extra work trying to reconcile budgets with portfolio decisions and strategic roadmaps. At worst, this disconnect leads to funds being misallocated to low priority initiatives, rather than being focused on projects that strategic goals of the organization

IFT’s financial management process area enables organizations to easily and seemlessly integrate their budgeting, allocations and capital approvals processes with strategic planning and portfolio management. The result is a single system for NPD financial management – providing the tools and data to support the differing needs of everyone involved in financial monitoring and control. That means a lot less time trying to reconcile data, and a lot more time for optimizing your financial spend.

IFT’s Solution

Assign financial budgets to business units, integrated with strategic bucket funding

Identify revenue and profitability targets by business unit in multiple currencies

Assign project costs, revenues and profits to business units based on definable allocation methods, and cross charging

Forecast business unit revenue and profitability based on current products and new product development pipeline

Track actual costs of projects and products and allocated cost to business units

Use visual dashboards to review and predict financial performance

 
 
Example Solution Capabilities

Related NPD Processes