Budget consolidation for six entities across three countries in just one click

Oxford Metrics, transformed a manual and fragmented budgeting process by implementing Phocas Budgets and Forecasts. Previously, the finance team managed budgeting through 135 separate spreadsheets shared across six entities in three countries, with files exchanged via email and stored on different servers. Consolidating budgets was time-consuming, prone to version-control issues and required significant time. With Phocas, budgeting and forecasting is faster, more controlled and centralized. User access and budget responsibilities are managed directly within the system, while live updates eliminate the need for endless email exchanges and spreadsheet reconciliations.

The biggest benefit has been the dramatic reduction in time spent on administration and consolidation. Budgets are now consolidated at the click of a button, allowing the team to instantly compare forecasts against actuals, previous budget versions and variances. As a result, the finance team spends less time maintaining spreadsheets and more time partnering with budget holders and business managers to discuss plans, risks, opportunities and performance drivers. The new budgeting process ROI has improved the quality of financial planning conversations and made finance roles more rewarding by replacing spreadsheet maintenance with higher-value tasks.