Budgyt is a platform made to simplify business budgeting. With built-in functions designed for data integrity, team collaboration, and scenario planning & analysis, Budgyt is presented as an optimized budgeting experience that rids users of complex, error-prone spreadsheets and the time-consuming upkeep they require. It provides users navigable dashboards, drill-downs through data hyperlinking, formulas built away from the user interface, and automatic consolidation. With…
$499
per month Departments
Jirav
Score 7.2 out of 10
Mid-Size Companies (51-1,000 employees)
Jirav, headquartered in San Francisco, aims to deliver smarter financials and faster insights, helping to understand where a business has been and predict where it will go. The system joins cloud-based Accounting, HR, CRM and billing data to automatically surface an interconnected model that is unique to a business. The solution helps eradicate spreadsheet errors, produce monthly reports that occur in real-time, and connected data enables teams to collaborate on multiple scenarios – bookings,…
I'm sure that Budgyt would not be the most appropriate solution for large, complex organizations with numerous entities or overly complicated structures. Those org's likely have solutions within their ERPs or other sophisticated finance systems with budgeting/reporting capabilities that mirror Budgyt, making it redundant. However, for an easy, and relatively cheap solution to meeting those needs, as well as forecasting and analysis, I would recommend Budgyt to anyone with the need.
I feel that Jirav would be best suited for companies with less than 75 employees that need a more robust software than Fathom (Quickbooks Onlne integrated FP&A tool based in Australia) that is very customizable, with simple revenue modeling, few personnel changes every month, few departments, no multi currency, and need collaboration only with top-level personnel. I think Jirav is a product that is being highly recommended in the accounting industry for outsourced accounting firms, but accounting only looks at historical information and there needs to more finance industry influence, approval, and input so they can improve their product.
Combining departments (components of an entity or a component of various entity's income statement) or isolating departments (small slivers) of an entity's income statement. We can look at specific departments of specific entities together, with ease.
Splicing / flipping reports into countless formats. Helpful for users of the financial statements that digest data/numbers differently than the financial accountants who prepare the numbers.
It is relatively easy to import data from our Jonas accounting program into Budgyt.
We've had prompt customer service when we've encountered issues and they were readily available during implementation.
Jirav integrates well with Quickbooks Online (QBO), and I like how you can easily customize the reporting presentation by combining GL accounts and showing more or less details as needed for managerial reporting
I like that Jirav is browser-based and that I can easily share reports with internal and external parties for comments
I feel more confident using Jirav than I do with Excel because there is more data validation, and some notifications will appear if there are errors in the model
The sales capacity model and ramping employees schedule that their implementation / professional services team built for us works well overall (with some limitations)
Ideally, having a direct integration into Jirav would be great for all our data. However, some of our software didn't have a direct integration, so I was glad that Jirav offered the ability to use a connected Google Sheet that lets me input data that can be imported directly into the system
At times, I feel that Jirav is too customizable. It would be great if they could tailor the system to be more industry-specific. For example, if the system could provide standard formulas for SaaS industry metrics already within the system, then that would have saved me a ton of time with having to create the metrics myself. The formula creation for metrics is quite tedious as well because you can only do simple calculations, such as A + B or A x C. You cannot do A + B + C or A x B x C.
I struggle with the way they have their staff planning set up because I have to reimport an Excel every month with all the changes (new hires, terminations, pay changes), and the changes appear to be retroactive on reports, which doesn't make sense if someone receives a raise or pay change during the year. It would be much easier for planning for bookings if they could add a column for quota by salesperson.
If there are notifications of errors in the model, then the notifications will continue to present themselves after I resolve the issue. It would be nice if I could clear out notifications I know are not relevant anymore. I also still find errors in the system that I would have expected the system to notify me about, such as Assumptions that are set up but they are not included in any formulas, so I should delete that assumption to prevent anyone from thinking changing that assumption will impact the model.
There is some functionality for sharing reports and information, but there is not enough granularity in security settings to allow me to share certain information easily. For example, if I want to share information with managers to manage their departments' budget, but also not see their boss' compensation, then it takes some work to set that up. Or, if I want to share a report with a recruiter of planned headcount and salary, then I need to export it to Excel first and delete Actual headcount and salary, so they don't see current employees' compensation (including the person's boss' salary).
Customer and vendor names do not import, only the totals, so if you look at Actuals vs Plan, the actuals will show a total figure and the plan will show detail, creating the need for an external and manual reconciliation
There is no multi-currency available
Scenario analysis can be difficult to do quickly. For example, if I want to see the plan with planned hires and without planned hires, then I would need to create two separate plans, individually select and delete the planned hires in one plan and keep then in another plan, which is time-consuming
Using Google Sign-In causes the system to time-out frequently for me, so I get kicked out of the system and have to log back in. If I have multiple tabs of Jirav open, then re-logging in sometimes doesn't bring me back to where I was originally at.
You can export reports to Excel, but there are no formulas of the calculations, which makes it more difficult to understand how calculations are being performed unless you look in the browser and dig into the calculations. This also might make it more difficult if you decide to go to another software in the future since you may need to start from scratch in the next software
Seasonality has been difficult to model. For example, the way our model is set up, I can use an assumption for Q1, Q2, Q3 and Q4. However, if I update Q3 for this year, then it also updates Q3 of all subsequent years, which I don't want. A more complex model and additional maintenance would be needed to accomplish more accurate seasonality planning
Our organization has increased our level of financial reporting and decreased the time it takes to build a budget with the Budgyt platform. Because our budget managers have access, it allows them a higher level of ownership for their areas.
Has the spreadsheet feel without the clunky formulas. Prior years monthly numbers easily visible on the data sheet to compare with. Easily run various reports on the dashboard. Easy to clone/create new scenarios. Custom template to import GL detail the way want to see it. User friendly for non-finance managers to use. Options to add comments on data sheet. Approval process - easy of viewing what needs to be approved.
During my first year of working within the budget software, I had to go through some training while trying to meet deadlines for meetings. The team at Budgyt was very accommodating and made sure I was equipped with the knowledge that I needed to be successful
Forecaster was terrible. We switched from that. We looked at multiple products, either too expensive or not user-friendly. We switched 4 years ago. I do not recall the companies we visited back then. There are certainly more on the market now, but I have no interest in switching as our entire office loves the product.
Fathom was the cheapest and most basic as an add-on directly to QuickBooks Online Plus, but you lose functionality with Fathom if you use QuickBooks Online Advanced (QBOA). The main loss of functionality for me was the lack of multiple department reporting, which was absolutely necessary for my analysis. Jirav was half the price of Moscaic.tech, but I've heard Mosaic has standard metrics for the SaaS-industry, which is appealing after going through the tedious process of setting up metrics in Jirav. QBOA has additional reporting than QBO Plus, but not enough robust features for planning and modeling. PlaceCPM is Salesforce-based and a I felt having a strong Salesforce admin that can great reports made their unnecessary, and I feel like most of the time you need a Salesforce admin just to run Salesforce. Cube, Vena and OnPlan are spreadsheet-based, but I don't want to use spreadsheets. Prophix, Board and Anaplan seem outdated. Workday was more than what I needed
Budget scenarios are amazing, when it comes to educational funding, were always having to pivot. Having multiple scenarios for financial planning is key to being economically sustainable. We can quickly add services or staffing based upon funding adjustments/projections and see if they will work in our current climate. This supports leaderships ability to make quicker decisions.
