Modernizing Budgeting and Financial Planning: How Boardwalk Velocity Eliminates Excel Pain Without Disrupting Users
Budgeting and financial planning are essential for organizations aiming to allocate resources effectively. Excel has been a longstanding tool in this domain, but its prevalent use presents notable challenges. Boardwalk Velocity offers a solution that addresses these issues without disrupting established workflows.
Prevalence of Excel in Financial Planning
A study by WesternMazers revealed that 87% of CFOs rely on Excel for financial budget planning. Similarly, research from BARC indicates that 33% of companies use Excel as their principal planning product.
Limitations of Third-Party Point Solutions
Rigid Data Models: Many solutions require adherence to predefined data structures, necessitating significant changes to existing budgeting models and processes.
High Customization Costs: Tailoring these solutions to specific organizational needs can be time-consuming and expensive, leading to increased total cost of ownership.
Complex Change Management: Implementing and updating these systems often demands extensive training and change management efforts, sometimes causing users to revert to Excel to meet deadlines.
Boardwalk Velocity: A Seamless Transition
ROI and Benefits: Improve budgeting accuracy and data integrity to 100%, reducing errors and saving millions in the process. In one annual and quarterly budget process with 100 leaders, Boardwalk Velocity saved $500K of executive time.
Leveraging Existing Models: Utilizing current Excel data models eliminates the need for extensive reconfiguration, preserving established processes and reducing disruption.
Eliminate Excel Pain: Velocity eliminates all Excel pain associated with budgeting—collaboration, version management, file names, data copy paste, data entry errors, emailing files, and manual analysis of multiple Excel files.
Enhanced Collaboration and Data Integrity: The platform provides automatic data consolidation and real-time updates, ensuring all users work with consistent and accurate information.
Cost and Time Efficiency: Implementing Boardwalk Velocity is approximately 18 times faster and more cost-effective than adopting traditional third-party solutions.