Capital asset and capital expense planning can be the keys to growth for many organizations. Capital assets and projects provide the tools necessary to execute on your organization's vision. Determining what assets and projects are worthy of funding and in what order is the challenge many organizations struggle with.
The strategic planning process should provide the target "mix" of spending, by mission-related category or initiative across the organization. Ensuring that only the appropriate level of spending for each mission-related category or initiative is approved and/or helping approvers understand that the target mix needs to be adjusted based on current needs is a key requirement to have a mission-driven, financially sustainable capital plan.
The ability to both rank and sort projects in a quantitative way gives context to the qualitative narrative that supports the requests as well as helps approvers identify outliers that may need additional supporting detail. Percentix can help your organization with:
- Capital asset and capital project submission processes
- Capital asset and capital project screening and approval
- Capital asset and capital project tracking and risk mitigation
The Capital Asset Planning module for Hyperion Planning gives users the ability to submit, evaluate, approve and track spending on capital projects within Hyperion Planning. Users are able to create and submit capital expenditure requests as a workflow-guided item within their larger budget submission. Approval committees are able to evaluate submissions across multiple dimensions and approve and reject requests based on both quantitative and qualitative measures. Because the data is stored in Essbase, tracking of variances for actual vs. approved amounts is done automatically by the system.
Clicke here to learn more about the Capital Asset Planning module for Hyperion Planning.