FMS brings forecast and reforecast into the same workflow as the budget. The FP&A team opens the cycle, departments update only the months still ahead, and controllership compares budget, forecast and actuals without building a parallel spreadsheet. All in multiple currencies, with inflation and exchange rates applied by FMS itself.
The budget is approved, the year starts and actuals are already drifting from the plan. Updating the projection every time that happens takes weeks of the finance team's time.
Someone copies the budget, sends the files out to each department and then consolidates everything back. In the next round, the process repeats.
Without a lock, it is easy for someone to change a month that already has actuals and distort the comparison with what really happened.
Budget vs. forecast, current forecast vs. the previous one, everything vs. actuals: each view is a new spreadsheet, with formulas someone has to check.
The forecast starts from the approved budget and stays in the same system, with the same lines, currencies and approval rules.
The administrator opens the cycle, sets the round and the deadline, and FMS copies the budget as the starting point. Departments receive the forecast ready to review, with no files to send around.
Months that already have actuals are locked. Departments adjust what is still ahead, on screen or through Excel import with validation and an approval workflow.
Reforecast compares budget, target, original forecast and projection by cost center and cost class, calculates credit and debit adjustments for the remaining months and allows manual adjustments before applying them.
In FMS, scenario planning means comparing the versions of the plan with what actually happened and deciding, from there, how to adjust the rest of the year.
Actuals come from the ERP and sit next to each version of the plan. Variance reports show where the projection moved away from the budget and why.
FMS keeps the previous version of the forecast so you can compare round against round and explain what changed between revisions, with bridge charts.
Each projection is shown in local currency, with inflation, and converted to the consolidation currency, using exchange rate and inflation tables specific to the forecast.
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The forecast is the updated projection for the year, prepared by departments from the approved budget. The reforecast readjusts that projection so the year closes within a target, redistributing the balance across the remaining months. In FMS, both happen in the same system as the budget.
Yes. Actuals are integrated into FMS from the ERP, and months that already have actuals are locked in the forecast. That way, departments only project what is still to come.
Yes. In each cycle, FMS keeps the previous version of the forecast. Reports compare forecast vs. budget, forecast vs. previous forecast and actuals vs. budget.
Yes. Capex Forecast has its own cycle, which starts from the projects in the Capex budget, covers only the months still ahead and goes through manager and FP&A approval. When a project is capitalized, the amounts defined in its settlement rules flow into the cost centers' forecast.