Built native to the ServiceNow functionality, the Proven Optics Budgeting & Forecasting App automates and streamlines budget data capture and establishes tiered, automated approval/rejection workflows using native ServiceNow functionality.
Adaptive configuration processes ensure any organization's budget and forecast process can be accommodated efficiently within the application.
Streamline & Modernize the Budget Formulation Process
Automate Data Capture–modernize the IT budgeting process with an intuitive experience that saves time, reduces errors, and improves analysis
Align Expense Drivers–aggregate budget line items to quickly identify opportunities to reduce spend or deploy more resources toward strategic programs
Evaluate Variances–implement real-time dashboards that provide critical visibility into funding and project variance
Provides the framework to budget and forecast within ServiceNow
- Automate and streamline budget data capture
- Incorporate tiered, automated approval workflows
- Adaptive budgeting and forecasting configurations
- Import budget line items
- Import actual spend
- Report through tailored dashboards
- Link posted spend to budget and forecasts
- Track changes and modifications to budget
- Track budget iterations until final approval
- Leverage current year budgets to create future year budgets
Features
1. Multi-Year Planning Workspace View
a. Users can now budget across multiple fiscal years from a single baseline, significantly reducing the number of clicks and the time spent managing multi-year budgets.
b. Key Benefits:
i. Ability to split budgets across fiscal years and apply consistent uplift percentages year-over-year (e.g., 3%, 5%, or 7%).
ii. Option to select specific fiscal years and budget granularity (yearly, monthly, quarterly).
iii. "Peanut butter spreading" functionality to automatically distribute budget amounts across fiscal periods, with the flexibility to modify individual months.
2. Uplift Percentages
a. Users can now apply year-over-year percentage uplifts automatically to selected budget lines.
b. Key Benefits:
i. Easily inject math into budget calculations, applying consistent uplifts to categories such as labor, contracts, or hardware.
ii. Condition builder functionality enables precise filtering of records to apply uplifts based on metadata (e.g., expense type, salary, software contracts)
3. Baseline Generator Condition Builder for Multi-Year Planning
a. The condition builder allows users to apply specific conditions when copying budget baselines across multiple fiscal years, offering granular control over which records are included in the multi-year budgeting process.
b. Key Benefits:
i. Users can filter budget lines based on metadata such as expense type, account name, or description (e.g., salaries, software contracts). This ensures that only relevant records are included in the multi-year copy.
ii. Allows users to easily target specific records (e.g., by expense type or contract name) and automate the application of these conditions across fiscal years
4. Budget Workspace “Sum”
a. Added a Sum amount at the bottom of a workspace, that totals the sum of everything on the workspace, across all pages. If you add filtering to the workspace, the sum will reflect the total of all the records that match the filtering.
- FX Currency
- Proven Optics Enablement
- Import Sets