Budgets for specific accounts can be exported, via API, into an ERP for transactional-level budgetary controls

Description

This process allows a specific piece of budget data to be loaded into an ERP, accounting system or other operational tool, such that the user has a point of reference as they spend.

Example Use Case

Scenario: A large healthcare corporation requires frequent budget updates for different departments within its hospital network. The CPM software used by the organization budgets down to specific accounts, departments, and locations.

Solution: With the integration functionality, the organization exports these account-specific budgets via API into their ERP system. This export permits transactional-level controls, enabling real-time budget supervision, enhancing the accuracy of financial planning, and decreasing the possibility of budget overflows in any department.

Considerations

Our example use case here is in healthcare, however we see the need for this most often for non-profits. They're looking to budget for a grant, and watch the finds trickle down as they're spent, live in the ERP or operational tool. This will require some mapping, as it is not a simple matter for CPM + ERP to understand what budget intersection (account, location, department, product, project etc) should be put into the ERP.

Questions to Ask a Vendor

• Export Capabilities: How does your system facilitate the API-based export of budgets for specific accounts into an ERP system? Is it on a schedule?
• Mapping Fields: How does the mapping work from the CPM to the ERP or operational system?