Pulse Budgeting delivers ‘Finance Transformation’ to mining CFOs

‘Finance Transformation’ is more than a buzzword in digital transformation terminology. Innovations in technology and management practices are allowing the roles of mining company CFOs and finance teams to be reimagined. With the new Budgeting enhancement for the Pulse Financials module, Finance Transformation is realized today through fully-integrated budgeting and forecasting to empower finance professionals.

Developed by Pulse, the Financial Integrated Budgeting System (FIBS) is the breakthrough for finance teams now called “Pulse Budgeting”. Pulse Budgeting is available as an enhancement for users of the Financials module within Pulse Mining ERP.

Pulse Budgeting provides a more systemized approach to budgeting and forecasting as a normal process with the benefit of Pulse system-wide integration. Finance professionals can forecast more reliably and more often, becoming what McKinsey calls ‘knowledge integrators’ — sharing information from multiple sources inside and outside the finance function, and helping to shape financial strategy for the business overall. This quantum empowerment delivers the transformational promise of Industry 4.0 to finance.

Fully integrated budgeting and forecasting – not a separate application

For finance professionals already using the Financials module within Pulse Mining ERP, Pulse Budgeting resides wholly within the Pulse Mining ERP environment so there’s no time-wasting export/import of data between separate applications.

System-wide data is immediately available within Pulse Budgeting to ensure greater accuracy and control. By maintaining one version of the truth, common opportunities for error and omission in budgeting and forecasting are eliminated.

Pulse Budgeting utilizes the standard Pulse Mining ERP menu roles and security access. The core evolution of Pulse Budgeting is maintained within the standard Pulse Mining ERP development cycle, and support and training are available within standard Pulse Mining ERP agreements.

Key features available with Pulse Budgeting for users of Pulse Financials:

“Finance Transformation (FT) is a set of offerings that assist Finance executives with assessing their finance strategy and vision, and helps design and implement change to their finance organization, process and systems to improve the overall value of finance.”

Integrated Costing

Valid cost codes are used within Pulse Budgeting and new cost code combinations are automatically added so there is nothing actual that can be missed when allocating budgets.

Integrated Production

Production statistics can be imported into Pulse Budgeting utilizing various activities, equipment, and locations. Within Pulse Budgeting, easily create corporate assumptions for cost-drivers over budgeted periods.

Integrated Asset Forecasting

Depreciation forecasting uses the actual asset depreciation methodologies, capitalization, and units as fully integrated into Pulse Budgeting.

Integrated Maintenance Budgets

Budgeted maintenance costs can be completely imported into Pulse Budgeting with full transaction history utilizing actual scheduling, parts, labor requirements, and work order costing.

Integrated Payroll

Employee salary details can be incorporated with on-costs and allowance calculations. Separate budgets for pay groups can be imported into Pulse Budgeting.

Integrated Review and Reporting

Pulse Budgeting allows for the review of base calculation elements within each cost code and the budget amounts. Encapsulated spreadsheet capabilities enable complex calculations and work-papers. Pivot-style reporting provides detailed drill-down over enterprise structure to transaction level.