Take a thoughtful look at your financial planning and analysis (FP&A) process.
If you’re a Government Contractor (GovCon) still struggling with manual calculations and static spreadsheets to keep up with dynamic federal market shifts, consider that your familiar routine may no longer be your true comfort zone.
Cloud-based FP&A software can free your team from the drudgery of collecting and maintaining data and provide the extensive and specific information required for government contracting and compliance.
FP&A Software for the Long-Term Strategic Advantage
Beyond these efficiencies, however, advanced FP&A software can help your leadership significantly broaden and sharpen its vision across the entire enterprise with real-time, data-driven insights that inform strategic planning for growth and new business opportunities. Your firm can pivot to adjust to changes in technology and dynamic federal, economic, and even global shifts. Agility and resilience become your new comfort zone.
4 Ways FP&A Software Benefits Your Bottom Line
- Data with greater depth and breadth.
FP&A collects and integrates data more efficiently from a wider variety of sources and business systems such as accounting and customer relationship management (CRM) systems. Systems collect historical and forecast data and allow for scalable assumptions to be added. Calculations can quickly iterate and be copied from year-to-year or customized each year for flexible multi-year forecasting.
- Continuous analysis and forecasting.
FP&A software’s automated features keep reports up to date. An FP&A system can conduct continuous planning, analysis, modeling, and forecast monitoring so you can quickly consider options and respond with the right moves in the face of market or business shifts.
Leadership can run unlimited what-if scenarios to assess how variables such as costs, revenue, price changes, taxes, expansion into new markets, hiring, and employee compensation will affect cash flow and profitability.
Static annual (or even quarterly) budgeting can become a thing of the past. FP&A software can create a rolling budget updated with continuous forecasts to adjust spending in response to rolling business conditions.
- Silo-busting collaboration across all your business units.
FP&A software combines data collected from internal and external sources in a standardized format. These cloud-based reports and dashboards allow team members to access, share, and analyze financial, operational, and economic data in one place with secure authentication.
Your entire organization—from the C-suite to business managers and departmental leaders in finance, operations, sales, and human resources (HR)—can align their actions with company goals.
For example, FP&A can integrate customer contract data that can guide development of the most profitable products and services. FP&A forecasts can help set realistic sales goals and sync up marketing plans with company strategy. Systems can identify employee growth that will impact HR benefit options and regulatory compliance thresholds.
- FP&A customized for your business.
Nue cloud-based FP&A software was developed uniquely for project-based companies that serve government and commercial customers. Nue supports compliant responses to Defense Contract Audit Agency (DCAA) budget requests, including proposal rate impact assessments and establishing provisional billing indirect rates or forward pricing rates. Nue can provide a variety of cost and indirect rate reporting, along with an integrated pipeline to capture new business estimates.
You need not wonder how Nue FP&A software can help you develop an agile, resilient strategy for your company’s unique challenges and opportunities. Contact us today for more information and a free demonstration at your convenience.
