Can handle up to 10 budget versions at a time

Description

The CPM software should accommodate up to 10 budget versions concurrently, allowing for comprehensive scenario analysis and contingency planning. This feature enables financial teams to prepare for various business possibilities and make informed decisions based on different budget scenarios.

Example Use Case

Scenario: A mid-market enterprise is preparing its budget for the upcoming fiscal year. It needs to consider several potential scenarios, such as changes in market conditions, product launches, or strategic initiatives, each requiring a different budget.

Solution: Using planning software that can handle multiple budget versions allows the enterprise to prepare 10 separate budgets reflecting different scenarios. For instance, one version might account for an aggressive growth strategy while another might be a more conservative, status-quo budget. This diversity in budget versions accommodates strategic flexibility and thorough planning.

Considerations

We suggest 10 here for mid-market and SMB buyers who are looking for a solution that is affordable. Sometimes an unlimited number of budgets will be cost prohibitive due to storage reasons or server powered to scale to an unlimited amount. Usually we see Best Case, Base Case, Worst Case for any given budget or forecast. That represents 6 versions that are live at any point in time.

Some tools will let you archive an unlimited number of versions. Look on your desktop and see how many Excel versions you have from last year's budget. That should help you understand if 10 is going to work for you.

Questions to Ask a Vendor

• Live Versions: Can your system simultaneously handle and manage up to 10 different budget versions?
• Archiving: How does the software archive past budget versions? Can they easily be retrieved for reference or audit purposes?
• Versions Defined: What do you consider a version? Is it a full clone of a base model, or a small subset what-if scenario on a sheet?