In today’s volatile market, businesses are characterized by technological advancements, economic uncertainty and strong competition, global expansion, demanding customers, rigid reporting requirements, and analysis.
With these competitive pressures and market demands, companies are constantly seeking to differentiate themselves by developing effective strategies and directives. One such way of differentiating is improving budgeting and reporting processes for better decision making. Organizations often start with Microsoft Excel but later scale their operations to such levels that Excel fails to provide the quick financial insights that decision makers need to effectively run a growing company. To help provide quick analysis, a Business Process Management (BPM) software suite can be implemented to provide insights to the decision makers.