Microsoft Convergence 2014 speaker and Twitter founder, Biz Stone, shared a personal story in an interview to make the point that real-time information from technology can drive understanding and action. He reminisced about his first fling with a fitness tracking device that he used for information about steps taken and calories burned to get more fit. In other words, his use of this technology led to informed action and direct results for his fitness.
At Microsoft Convergence this year, we heard this truth first-hand from Ariett customers who were using Ariett Purchase and Expense Management Software's business budging functionality. Ariett’s instant display of the available business budget led to better purchasing decisions. Whether approving a purchase request, invoice or expense report or managing the timing of a purchase, Ariett budget stakeholders acted on the immediate visibility to their budget.
Like Biz, when you experience access to real-time data, such as data about the status of your budget, you are empowered to act. Here are the steps towards informed business budgeting decisions that will save costs and improve corporate accountability.
Step 1: Visibility
While a fitness tracking device launched Biz on the path to a svelte physique, our business software can launch you on the path to a salubrious budget. Ariett Software allows budget stakeholders to view calculated budget availability at the time of entering purchase requests, approving invoices or entering expense reports. To review more information about departmental or capital budgets, you can simply drill to transaction details and attachments.
Step 2: Real-Time Insight
With visibility to your current budget and budget commitments, you gain insight into the expenses that impact your bottom line the most. Hone in on transgressive vendor rates or employee spending by performing on-the-fly queries. Instead of manually scrolling through a spreadsheet, use Ariett Software’s configurable search screens, columns and fields to retrieve the financial data you need in real-time. For more in-depth analysis, run reports on items such as vendor performance, overdue shipments, price variances and accruals.
Step 3: Positive Spending Decisions
Now that visibility and insight are within your grasp, it’s time to do a Biz Stone and leap into action. Once you’ve viewed your current budget and dissected various expenses, you can make concrete decisions to restore a healthy glow to your business budget. Perhaps, it will be revealed that employees from one department tend to spend more on booking flights? In this case, you can set a new travel expense policy or suggest optimal days and times for booking flights. By alerting you to the status of your budget and budget commitments, Ariett Purchase and Expense Management Software empowers you to make the right business budgeting decisions.