Drive efficient business performance with a best-in-class variance analysis software
Automate your variance analysis, track actuals against budget, easily deliver insights, and share variance reports to drive business performance.
FP&A TEAMS AUTOMATING THEIR VARIANCE ANALYSIS WITH ABACUM
Automate your variance analysis with a single click
Automate your variance analysis with Abacum’s best-in-class integrations. Connect directly to your ERP or any other business system to have real-time actuals to budget comparison. Creating a variance analysis should not require manual data copy-paste, which is why Abacum natively supports data consolidations or multiple entities, saving you hours of manual work. Always have accurate and up-to-date BvA charts and tables that will roll forward at month end, as well as the flexibility to compare actuals against your budget, forecast, or any what-if scenario.
Understand and analyze your business performance across any point in time
Look at the past, present, and future to gain a clear understanding of your business performance. Drill down to your source transactions for instant reporting granularity, and the ability to understand the reason behind any positive or negative variance. Abacum transforms your data into insights by enabling you to slice and dice across any metric, time period, or scenario. Understanding what is really impacting future or actual performance has never been so seamless.
Drive efficient growth and stay on track by connecting all the dots
With Abacum, you can create top-down, department, and vendor level BvAs to easily review actual figures against targets. It will never take you more than a couple of clicks to compare your business model against actuals, and update your forecast with the latest insights. By connecting all the dots, you can start identifying potential issues and taking corrective action early, ensuring your company is always on course to achieve its strategic objectives. Start using Abacum to drive informed decisions and owning an accurate and precise forecast.
Share the impact of every decision to drive business performance and accountability
Build cross-functional alignment, centralize performance, give each budget owner access to their own variance details, and leverage robust user permissions to securely manage and share variance reports. With Abacum, sharing the full context of each line item has never been so simple, budget owners can directly provide commentary behind any variance or submit their latest re-forecast for approval. With this level of insight your business can start making the necessary data driven decisions that support your strategic objectives.
Automate your variance analysis with direct integrations
Abacum connects with your current financial and operational systems to automatically consolidate your metrics and create a BvA performance report.
Reduce OPEX costs
Centralize all your vendor level spend to easily perform any analysis or forecast future decisions
Seamless reforecasting workflows
FP&A and budget owners can use automation workflows and approvals to easily reforecast spend
Intuitive reporting experience
Budget owners have real-time access to all the context of any reporting variance, so they can focus on the what and why behind it
Understand your the why of your performance with automated BvA reports
Abacum offers automated variance analysis reports for startups looking to optimize their financial performance and drive efficient growth. By providing clarity, automation, and a holistic approach to financial planning and analysis, Abacum will enable you to make data-driven decisions that will improve your business’s bottom line.
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“Having global operations across 8 countries, Abacum completely automated our manual reporting processes, accelerated our management and board reporting process, and gave us more time to focus on driving strategic decisions.”
“Abacum is very helpful if you are looking for a collaborative financial planning and analysis tool that helps you with your budget preparation, variance analysis and reporting processes.”
Mid-Market (51-1000 emp.)
“With Abacum, we stopped budgeting by emailing spreadsheets. Our 30+ Budget Owners became collaborators, understood their performance, and gave us the visibility to plan with clarity.”
Still have questions? We’ve got answers.
What is variance analysis software, and how does it assist with budget management?
Variance analysis software is a specialized tool designed to help organizations compare their actual financial performance against a static budget, identifying expense variances and providing insights for better financial decision-making. The software automates the process of budget variance analysis, enabling businesses to quickly and accurately pinpoint favorable variances, negative variances, and areas for improvement.
How does variance analysis software help in identifying expense variances?
Variance analysis software simplifies the process of tracking and analyzing expense variances by automatically comparing actual expenses against the static budget. The software highlights discrepancies, making it easier to identify areas where spending is higher or lower than anticipated, ultimately guiding more informed financial decisions.
What benefits do organizations gain from using variance analysis software?
By using a variance analysis solution , organizations can efficiently monitor their financial performance, identify favorable and negative variances, and take corrective action to optimize their budgets. The software enables businesses to make data-driven decisions, anticipate future variances, and learn from previous period performance.
How can variance analysis software help improve an organization’s financial forecasting?
Variance analysis software provides valuable insights into past financial performance by comparing actual results against a static budget. By identifying patterns in favorable and negative variances, businesses can make more accurate financial forecasts and prevent future variances from occurring.
What are the key features to look for in a high-quality variance analysis software solution?
Key features to consider when selecting a variance analysis platform solution include easy integration with existing financial systems, customizable reporting, real-time data analysis, and intuitive data visualization. Additionally, consider the software’s ability to handle different types of expense variances, such as fixed and variable costs, and its capacity to analyze both favorable and negative variances.
Can variance analysis software help identify the root causes of budget variances?
Yes, it can help identify the root causes of budget variances by providing detailed information on each expense category and highlighting discrepancies between the static budget and actual performance. This information allows organizations to investigate and address the factors contributing to variances, ultimately improving budget management.
How can variance analysis software improve financial decision-making?
By providing detailed insights into expense variances and comparing actual financial performance against a static budget, variance analysis enables organizations to make data-driven financial decisions. The software helps businesses identify areas of inefficiency, optimize resource allocation, and adjust their financial strategies to achieve better results.
How does variance analysis software help organizations reduce future variances?
Variance analysis software assists organizations in reducing future variances by providing insights into past financial performance and identifying patterns in favorable and negative variances. By understanding the underlying causes of variances, businesses can make informed adjustments to their budgets and financial strategies, ultimately minimizing future discrepancies.