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Capital Expense Management, Procurement, and Your Year-End Budget for 2022/2023
As we draw near the end of 2022, it’s time to start thinking of your 2023 budgets if you haven’t already. In the modern business landscape, things change so quickly that you can’t rely on last year’s budget when starting […]
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It’s 2021… Do You Know Where Your Budgets Are?
Finalizing numbers and gathering information from the prior year is a huge goal for the first month of a new fiscal year. For many companies, deadlines are getting closer and the pressure for fast, accurate reporting is increasing. Having immediate […]
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What Can The Finance Department and HR Learn From Each Other About Balancing Short- and Long-Term Goals?
At first glance, it might not seem as if the departments managing company finances and those managing employees have much to do with each other. Isn’t there a big difference between balancing a budget and retaining employees? Or between managing […]
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The Role of Automation in Managing Capital Expense Projects In The Manufacturing Industry
This is the second post in our new Automate Your Industry blog series. Today, we’re focusing on specific ways companies in manufacturing can benefit from NextProcess’s software modules. (We’ll have more industries coming up in the next few weeks.) You […]
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A Quick Guide to Getting Started with Rolling Forecasts
Rolling forecasts are widely regarded as a useful and reliable alternative or addition to traditional budgeting for the modern business world. In a rapidly changing business landscape, static budgets simply aren’t responsive enough to give many companies the flexibility they […]
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How to Choose between Rolling Forecasts and a Static Budget
How do you know if your company is using the best budget and forecast model? Most companies use a traditional, static budget to make predictions about their expected revenue and planned expenses. It’s the tried-and-true method people have relied on […]
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Here’s Why You Need Capital Project Management Software For Your ERP Software
Enterprise Resource Planning (ERP) systems play a key role in managing a company’s internal departments. They’re designed to streamline and integrate a wide range of business processes including accounting, financial reporting, purchasing, and much more. They’re a beneficial system for […]
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Here’s Why NextProcess BPMS Is Better Than Excel at Managing Capital Expense Projects
Capital expense (CapEx) projects can be a challenge to handle efficiently. A lot is going on with these sorts of projects, and they typically involve large sums of money. Plus, they’re important for keeping your business running smoothly as your […]
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5 Accounting and Budgeting Tips for Paying off a Business Loan after You Start a New Business
Starting a new business means you’ll have to face many expenses. In most cases, the best option for handling these expenses is to take out a business loan. As your company begins to grow, you must be careful not to […]
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Where Do Errors in Financial Spreadsheets Come from and How Can Your Business Fix the Problem?
Love them or loathe them, spreadsheets have become an essential part of corporate life. Companies use them for tons of different purposes. In some companies, they’re tracking just about everything on a spreadsheet somehow. For better or worse, Excel has […]
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This is Why You Need CapEx Management Automation To Help Prevent Capital Project Overrun in IT
Large-scale IT projects are a possibility at any company and become more prevalent every year. Capital project management is always a complicated endeavor, and for IT projects it can be even more complicated than usual. IT projects usually cover multiple […]
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Everything You Need To Know About Automating Capital Expense (CapEx) Projects & Spend Management in 2020
Acquiring new assets and maintaining the ones you currently have can add serious value proposition to your organization. Like any investment, acquiring capital assets requires a careful assessment and acquisition process. You have to ensure you’re budgeting your projects adequately […]
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