FinTrak, a Lagos-based Financial Technology firm has deployed the latest version of Enterprise Budgeting software.
The firm also stressed the importance budgeting in any company’s strategic planning.
It described budget as a comprehensive financial plan for achieving the financial and operational goals of an organisation.
When deployed correctly, it can be the mapping of the company’s strategic plan.
Having this in view, an indigenous financial technology firm made the challenges associated with budgeting easier with its upgraded FinTrak Budgeting Software.
According to the technology firm, budget has gone past the era of spreadsheet and formulas, “and with FinTrak budget software, budgeting has been taken to a new level by introducing a high level of automation. The software, embedded with features such as IFRS compliant calculations, Formula-free technology, budget versioning and scenarios, budget simulation, automated consolidation of multiple units and extensive built-in financial and business intelligence, would make the work of Chief Financial Officers easier and error free,” the firm said.
Speaking on the software, the Group Managing Director of FinTrak, Bimbo Abioye, said: “It’s time to move beyond manual intensive budgeting through spreadsheets and formulas.
“This product enables you concentrate on the structure and performance of your business, and not on troubleshooting spreadsheets one cell at a time.
“FinTrak Budgeting software is developed for confidence, productivity and insight into your financial operations and enables organisations to achieve proper budgeting and controls.”
Unlike other budget software in the market, FinTrak budget software offers organisations added advantages such as greater ownership of financial performance by all strategic business units and managers.
It also avails users an easy adaptation to any structure and reporting requirements or standards, and most importantly, integrated income statement, balance sheet and cash flow reporting are among many things that organisations stands to gain when the software is deployed, the firm said.
About six commercial banks and two mortgage banks in Nigeria are already on the platform presently, the technology firm added.