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VFA.spendManager Benefits Include:
- Meaningful budgets to reduce unplanned spending
- Spending controls to improve accuracy and financial performance
- Real-time data visibility to improve decision support
- Aggregation and standardization to lower costs
- Accurate forecasts and variances to improve cash flow management
- Defensible and auditable processes to ensure responsibility and accountability
The VFA.spendManager end-to-end solution facilitates proactive management of the entire capital spending process, including:
Planning
- Create a consolidated, consistent view of capital needs to facilitate both short-term and long-term planning
- Assure capital spending plans are aligned with strategy, need and capital availability.
- Define requirements at any level in the organization with multi-level cost categories.
Budgeting
- Involve all stakeholders—Finance, Facilities Management, Purchasing, Engineering, and others—in developing budget estimates.
- Enable users to define and justify capital requests based on ROI, operational impact and strategic relevance.
- Prioritize capital needs relative to one another and with respect to strategy.
Forecasting
- Accurately forecast cash needs and provide ongoing cost estimates.
Purchasing
- Automate and streamline the purchase requisition process, and enforce hierarchical and role-based purchase authorization.
- Lower costs through aggregation and standardization.
- Integrate information from existing purchasing and financial systems.
- Reconcile capital plans with actual spending.
Tracking & Reporting
- Reconcile capital plans with actual spending.
- Apply fiscal-year controls to multi-year projects.
- Manage variances and performance.
- Make budget performance reports immediately available to keep everyone focused on results.
- Customize reports by department and individual, and enable real-time alerts.
Project Management
- Define single or multi-year projects.
- Group and manage multiple capital requirements.
- Roll-up and track financial data by project.
- Configure and automate project workflow.
- Report on project specific data.
Learn more . . .
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