Spectrum Housing Builds Better Foresight with Infor
Infor, a leading provider of business application software serving more than 70,000 customers, today announced that Spectrum Housing Group has deployed Infor Corporate Performance Management (CPM) Planning and Budgeting. The application replaces a spreadsheet-led approach and will improve visibility across the housing group. In turn, this will help drive efficiencies by helping the company to deploy its resources more effectively and by providing budget holders across the organization with the tools to forecast more accurately.
- Spectrum Housing Group's previous spreadsheet-led planning processes meant that there was an increased risk of inaccuracy, poor data quality and inconsistencies across different areas.
- Costly accountancy resources were required to manually analyze data, and it was identified that these skills could be deployed in more value-add areas across the organization.
- In order to address these issues and reduce risk, Spectrum Housing selected Infor CPM Planning and Budgeting following a tender process. The selection was made based on proven capabilities, reputation and ease of use, particularly for ad hoc requests and inquiries.
- Key benefits are that Management Accounts can be created quickly and confidently, and through interfacing with the HR system, budget holders have access to current meaningful data on total employee costs - not just retrospective, two-dimensional data. This allows budget holders to forecast monthly reports more accurately, promoting better, more informed decisions.
- This improved visibility means that the housing group has greater control over its costs, which the company believes is already delivering savings.
- Infor CPM Planning and Budgeting is used by 20 finance personnel and 80 budget holders across Spectrum Housing.
Spectrum Housing Quote
"Infor CPM stands to deliver immense value to us as an organization," said Kathryn Price, director of Finance, Spectrum Housing. "Straight away the improved visibility allows us to budget and forecast more accurately. In particular the interface with our HR system means that we can perform this based on accurate meaningful information - for example the system will factor in whether an employee is leaving halfway through the budgeting period or if pay reviews are likely to result in a spike in salary costs. Secondly, the efficiencies Infor CPM will deliver mean that accounting resources can be put to better use and can focus on adding strategic value to the organization instead of analyzing data."
"The ability to forecast quickly, accurately and objectively is crucial for organizations looking to maximize efficiencies, boost profitability and achieve a competitive edge," said Jan Gahde, senior product manager, CPM, Infor. "Through interfacing with other systems such as HR, Infor CPM can assess the potential impact of changes and events across all areas of the organization to create meaningful projections on performance in the short, medium and long term."
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