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Budgyt

Score8.6 out of 10

48 Reviews and Ratings

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What is Budgyt?

Budgyt is a dynamic FP&A platform that simplifies budgeting, forecasting, and reporting. It offers a single source of truth for CFOs and finance teams to integrate financials, streamline processes, and manage multiple departments.

Categories & Use Cases

Media

Screenshot of the dashboard
Screenshot of scenarios (budgets)
Screenshot of where to copy data
Screenshot of a data sheet
Screenshot of where to manage C2C's (Category to Category Formulas)

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Screenshot of the dashboard

Reviews

What users are saying about Budgyt.
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Budgyt is great for Budgets!

Incentivized
Karen Ponicsan
Business Manager in Finance and Accounting at Our Savior Lutheran Church (51-200 employees employees)

Use Cases and Deployment Scope

We use Budgyt in our organization to simplify the process as we have over 200 line items. We work on the budget once a year and being able to create notes within the system helps provide information that may have been forgotten over time. Also, the recorded sessions that Budgyt provides during training serves as a refresher to me or any new team member that needs to learn the software. I also use their customization services to provide charts to present at board meetings, which is very helpful.

Pros

  • The software provides ease in making edits and changes while working with many scenarios that can be created within the platform.
  • The visualizations are extremely helpful for presentations.
  • Provides recorded training sessions to review at any time when learning the software
  • The team works hard to provide great customer service
  • Budgyt Team works hard to customize our reporting to meet our needs each year as we grow.

Cons

  • Creating a symbol to click on to import from the software to the Desktop version of QuickBooks

Return on Investment

  • Reduced amount of time to create a budget
  • improved insight into variances from previous year to determine activities causing change.
  • used website with Board Members to work in real time to adjust budget for finalization.
  • reports can be shared with employees easily
  • Customized Visuals help board members to see the overall financial insight in order to make better decisions for cost effectiveness.

Usability

Other Software Used

OneSaas by Quickbooks, QuickBooks Desktop Premier, Servant Keeper

Great Product for Mid-Sized Organizations

Incentivized
Steve MacielView profile
Chief Financial Officer in Finance and Accounting at League of California Cities (51-200 employees employees)

Use Cases and Deployment Scope

Budgyt is our financial planning and analysis software, used primarily for distribution of monthly financials to all department heads and for the annual budget build/approval process

Pros

  • Budgyt has a strong hierarchy structure (i.e. department, program, project) for roll up of various functions into their department
  • Allocation of shared costs, especially salary and benefits across various funding sources
  • Quick and easy switching between views (i.e. actual to budget, 3-year actual trend, 3-year budget trend)

Cons

  • Visualizations integration into core product
  • Balance Sheet functionality in core product

Return on Investment

  • Allowed us to move from a very onerous manual spreadsheet-based annual budget process, where consolidation was difficult and time consuming, to a fully-online cloud-based product.
  • Individual department head logins with security to restrict access to only what they should see. We have over 20 different departments, so the ability to enable a user at setup to see only their departmental results is an improvement over the manual security Finance maintained in the spreadsheet world.
  • Drill down into monthly financial results at the journal line level makes it easier for management and department heads to verity their financials. Previously, any unknown transactions were manually submitted to Finance with a question as to what was the vendor and/or payment associated with.

Usability

Alternatives Considered

Workday Adaptive Planning

Other Software Used

Microsoft Excel, QuickBooks Desktop Enterprise

Powerful, Flexible, Easy to Use Budget & Planning Solution

Incentivized
Tom Ducary
Controller in Finance and Accounting at American College of Sports Medicine (11-50 employees employees)

Use Cases and Deployment Scope

ACSM uses Budgyt to build our annual operating budget, produce and view regular periodic financial reports, and complete ad hoc data analysis. Budgyt is very user-friendly and flexible, and easy to administer, which is great considering that most of our users are non-finance folks. Budgyt is very intuitive and easy to follow, enabling successful navigation and use of financial info for our entire organization.

Pros

  • budgeting: building annual budgets from the ground-up
  • financial reporting: Budgyt includes a number of great options for navigating financial reports
  • analysis (& reporting): the ease and flexibility of configuring and using data tools allow for detailed analysis, and numerous options for accessing data to enable effective analysis and reporting views

Cons

  • minor: a desired quality of life improvement would be to alter the way things are presented/navigated via the sidebar - in some cases, it can mean repeatedly toggling between multiple tabs or going back and forth between different screens when it could be more efficient and less tedious if done differently
  • major: having access to real-time data is a priority, therefore relying on manual import/export of financial data from Sage Intacct is not ideal. Budgyt has promised that live integration with Sage's API is coming, but it has yet to be delivered.

Return on Investment

  • time savings: cannot overstate how impactful Budgyt has been relative to our former excel-based, manually-intensive budget process
  • financial insights: Budgyt is an incredible tool for putting financial data at users' fingertips, in formats and with details presented in a way that adds value to non-finance users and enables data-driven operational decision making

Usability

Other Software Used

Sage Intacct, iMIS

Great value and easy to use

Incentivized
Sharon LoganView profile
Director of GRC in Corporate at XWP.Co Pty Ltd (51-200 employees employees)

Use Cases and Deployment Scope

We use Budgyt to forecast and budget for our business and compare to actuals. We also use it for management reporting to department heads because it allows us to restrict what they can and can't see through permissions, rather than having to create multiple spreadsheets.
As more than 95% of our cost is associated with employees and contractors located around the globe using spreadsheets to forecast costs is extremely difficult. Budgyt makes this process easy.

Pros

  • Permission levels, and aggregating sensitive GL categories
  • Payroll and contractor costing and forecasting
  • Multiple currencies

Cons

  • Only thing I would like to see is a report that uses actuals and budget to forecast the whole financial year

Return on Investment

  • It has been a huge time saving for us when trying to forecast for changing personnel and contractors
  • It has also created a portal that department managers can use to drill down on their costs without risk they will see information they shouldn't
  • We have also used it to replace manual management reports created on spreadsheets and this has also saved a significant amount of time.

Usability

Alternatives Considered

Fathom and Calxa Premier

Budgyt Platform is Great!!

Larry Cain
Sr. Analyst in Finance and Accounting at NCRC (51-200 employees employees)

Use Cases and Deployment Scope

The Budgyt platform has made my budgeting process so much easier. Being able to move away from using multiple, linked Excel spreadsheets has been great. The employee module and the formulas modules are excellent. The customer service is also exceptional. I would definitely recommend this software package to anyone looking to get away from spreadsheets.

Pros

  • Budgeting
  • Version Control
  • Employee module

Return on Investment

  • Save time during budgeting
  • Improved forecasting

Usability

Other Software Used

SAP Concur, MIP Fund Accounting

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