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AndyJorgensen - PeerSpot reviewer
Chief Revenue Officer at a computer software company with 51-200 employees
MSP
Top 10Leaderboard
Eliminates the need for users to sift through irrelevant options
Pros and Cons
  • "The tool improves the organizational budgeting process in several ways. One significant aspect is the extensionable functionality it offers. To illustrate, consider a scenario where a company has factories in Mexico producing Volkswagen and Kentucky producing Ford."
  • "The tool's interface is outdated. However, OneStream is easier to navigate."

What is our primary use case?

As a company grows and expands into multiple regions with different currencies, the level of complexity increases. At that point, Oracle Planning and Budgeting Cloud becomes a better solution. Based on a company's revenue and size, there is a threshold where they need to transition to a better tool to handle the increased complexity.

What is most valuable?

The tool improves the organizational budgeting process in several ways. One significant aspect is the extensionable functionality it offers. To illustrate, consider a scenario where a company has factories in Mexico producing Volkswagen and Kentucky producing Ford. 

When employees in Mexico input their budget and forecasts, they only see the relevant products and processes applicable to their location. Similarly, employees in Kentucky have access to data pertinent to their operations. This functionality streamlines the user interface experience by dynamically filtering information based on relevance. It eliminates the need for users to sift through irrelevant options, akin to the inconvenience of scrolling through a lengthy dropdown menu to select a state when a simple text entry could suffice. Having that capability essentially means that the system recognizes your location, like being in New York, and automatically presents relevant information.

I think it's pretty powerful for where they are right now. It fits the bill for people seeking a solution for planning and budgeting. And it probably fits the bill better than most products out there. One of the nice things about it is its power and versatility. Anything you can do in a spreadsheet, you can do in this product. It has all the power of a spreadsheet and fixes issues like security, data integrity, and the standard errors in spreadsheets. So, taking away the drawbacks of Excel and replacing them with good features is a fantastic capability they have. Most people who get these products previously created all their budgets and forecasts in Excel. The fact that it's the next step in evolution speaks volumes about their development.

The tool incorporates AI functions encompassing budgeting, forecasting, and transactions at the macro and micro levels. On the other hand, OneStream seems more focused on reporting, planning, and budgeting functionalities. Oracle Planning and Budgeting Cloud's approach seems more holistic, leveraging its ERP products, while OneStream focuses more on specific functionalities relevant to its product offerings.

What needs improvement?

The tool's interface is outdated. However, OneStream is easier to navigate. 

How are customer service and support?

The tool's customer service is fairly good. Outsourcing to India has taken some time to get up to speed, but they are now well-trained. Additionally, they have domestic senior resources, allowing for quick escalation of complex issues.

However, they can also concentrate on enhancing the process. This means that even though you may start with basic support, you can be escalated to higher levels with better solutions or more quickly, which I believe they have accomplished.

How would you rate customer service and support?

Positive

What other advice do I have?

Every company is unique, with different growth strategies and trajectories. Some companies focus on acquisitions to grow rapidly, while others prefer organic growth, expanding into new markets gradually. It depends on the company's specific growth goals and how they plan to achieve them. For example, a company aiming to grow from $100 million to $1 billion in revenue in two years will require different strategies than one aiming to increase from $100 million to $200 million in the next year.

I rate the product a nine out of ten.  

Disclosure: My company has a business relationship with this vendor other than being a customer: Partner
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Financial Manager at a hospitality company with 51-200 employees
Real User
Top 20
Prepares reports automatically, helps review financial statements, and enables decision-making
Pros and Cons
  • "All the reports are prepared automatically."
  • "Sometimes, the data disappears from the product."

What is our primary use case?

I use the solution to review financial statements, sales forecasts, and budgets. I use the test management and reporting tools. Board takes data from Business Central. We can analyze it. We can also drill down by products. For example, if we prepare a sales forecast, we can drill down and analyze when to expect growth and fall.

What is most valuable?

Board is quite a good solution. All the reports are prepared automatically. The data is uploaded from Business Central automatically. Sales analysis is a valuable feature. We can do a detailed analysis of the crops and their varieties. We can also do a sales forecast. The solution also has budget-related features. We can analyze the actual expenditure versus our budget.

The financial statements have had the most significant impact on our decision-making process. We can analyze it and write comments. It's good that Board has the functions that enable us to drill down. If we have a total amount, we can drill down to the transactions and how they influenced our results.

What needs improvement?

Sometimes, the data disappears from the product. We have had a few such cases. When I added my comments to the data, it disappeared. A technical specialist tried to restore it. It was not convenient. The solution must provide more flexibility. It must enable analysis in different dimensions. We can analyze by varieties now. Previously, we could analyze by customers, but now, it is not possible. I think it depends on our customization.

What do I think about the stability of the solution?

I rate the tool’ stability a six out of ten. Sometimes, the product is incorrect. We had some consistent technical issues. We fine-tuned and fixed them.

What do I think about the scalability of the solution?

I rate the tool’s scalability a seven out of ten. The scalability is quite good. We can consolidate the data in the tool for a few legal entities. Three people are using the product in our organization. We use the tool once a week.

How are customer service and support?

Sometimes, support takes a lot of time. The issues are not fixed in a day. It can take three or four days, so we have to wait. The technical support must be improved.

How would you rate customer service and support?

Neutral

How was the initial setup?

The solution is cloud-based.

What other advice do I have?

We use Board for just the integration with Business Central. We do not use the drag-and-drop interface. We do not use it for predictive analytics. We are not growing now. We have stable full-time employees. Our turnover is stable. People evaluating the product must know what they must have for their analytic needs. A specialist can create the report. 

The most important thing is to know what we want, which forms, which reports, and what they should look like. We must have a good accounting system. Everything should be done properly to get the correct report. Overall, I rate the product an eight out of ten.

Disclosure: I am a real user, and this review is based on my own experience and opinions.
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