IDU | Budgeting Forecasting and Reporting Solutions: May 2015

Monday, 18 May 2015

IDU achieves Microsoft Silver Data Analytics Competency

idu Software earns distinction through demonstrated technology success and customer commitment

Local accounting software company, idu Software, today announced it has achieved a Silver Data Analytics competency, demonstrating its ability to meet Microsoft Corp. customers’ evolving needs in today’s dynamic business environment. 

To earn a Microsoft silver competency, partners must successfully demonstrate expertise through rigorous exams, culminating in Microsoft certifications. And to ensure the highest quality of services, Microsoft requires customer references for successful implementation and customer satisfaction.

Idu Software simplifies financial management for non-financial managers. Its flagship product, idu-Concept, provides easy, effective budgeting and financial reporting for medium-sized to large businesses, including many of South Africa's top firms.  

“The Data Analytics Silver competency assists us in securing the position of a trusted advisor to our clients,” says CEO of idu Software, Kevin Phillips. “Our clients can be confident in our knowledge of the Microsoft technologies.  We are able to leverage our detailed business and technology understanding to deliver successful Analytics solutions.” 

“By achieving a silver competency, organisations have proven their expertise in specific technology areas, placing them among the top 5 percent of Microsoft partners worldwide,” said Phil Sorgen, corporate vice president, Worldwide Partner Group at Microsoft Corp. “When customers look for an IT partner to meet their business challenges, choosing a company that has attained Microsoft competencies is a smart move. These are highly qualified professionals with access to Microsoft technical support and product teams.”

Attaining the Data Analytics competency demonstrates partner expertise in designing, developing and implementing analytics and data management solutions that allow customers to monitor, analyse and plan business performance based on actionable business insight. Equipped with exclusive training, the latest software, and support on solutions around Microsoft SQL Server 2012 and Microsoft Azure, partners help their customers set their organisation apart from the competition.

The Microsoft Partner Network helps partners strengthen their capabilities to showcase leadership in the marketplace on the latest technology, to better serve customers and to easily connect with one of the most active, diverse networks in the world.

Monday, 4 May 2015

Does the budget alone empower your managers?

We pour a massive amount of time and energy into our budgets once a year. We have realised that by involving our cost centre managers, our line managers, and our people in the field in drawing up the budget, they are engaged and empowered and more likely to buy into the budget and its results. 

But what then? If it’s a once-off exercise that doesn’t tie back into anything of value, it may have the opposite effect on your team; with the recognition and empowerment they felt being reduced each month until they feel that their contributions were not only unappreciated, but a waste of valuable time.

The benefits of capturing a budget or forecast in an efficient way are established and many; however the real value of budgeting is only realised once the actual spend is compared against the budget or forecast. Although you could give your people access to the General Ledger, there wouldn’t be much point; non-financial users would not be able to understand the endless reams of irrelevant-to-them information.

Your team needs a real-time tool; a two-way interface between the budget and general ledger to allow them to keep track of their numbers and to provide feedback on any changes as they come about. Your managers need the ability to capture comments with explanations and reasons for any variances or discrepancies - even an adverse expenditure is not a fundamental problem if there is comment or documentation to support it. 

The best way to fully empower your managers and get the most from your budget is to provide your team with a familiar environment; a purpose built budgeting and reporting tool that not only allows them to have input into the budget, but allows them to easily understand, track and monitor their expenditure against their budget. Without this, the value of the exercise is greatly diminished, and potentially damaging to your team and their morale.