Adaptive insights1/6/2024 ![]() Unfortunately, the contractor's engagement ended before we gained any guidance on the how. My finance team had a temporary contractor that had experience being on a team implementing AI and says it is possible to match LID of budgets and actuals. My company has weak project management, no business analysts, accounting personnel in charge of working with AI consultants on implementation, and no backbone for pushing back on vendors failing to live up to the terms & conditions. The setup we have now only aggregates everything at an account level. These consultants have never heard of such a thing are are clueless as to why a finance team would need detailed variance analysis functionality (seriously?). This was a critical functionality was a major requirement of the RFP and ultimately the reason we selected AI over other options.Īfter selecting AI for our budgeting/forecasting system, AI provided no help on the methods available to achieve this functionality and directed us to ask one of their top recommended implementation consultants. This way YTD variance analysis could be built on monthly with no redundancy or lost work for previous months (especially when turnover happens in the department). Then when actuals came in, they could be matched to the corresponding budget LID or add a new description, such as "Unbudgeted - Furniture". Working with more than 3,500 customers in 50 countries. Meaning a budget would contain line item descriptions like "Office Supplies" or "Coffee Service". Adaptive Insights provides online software to help companies with performance management, a key task in financial planning for any business. Adaptive Insights promised the company that I work for that we'd be able to utilize line item detail (LID) in the system.
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