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Budgyt

Score8.9 out of 10

65 Reviews and Ratings

What is Budgyt?

Budgyt is a dynamic FP&A platform that simplifies budgeting, forecasting, and reporting. It offers a single source of truth for CFOs and finance teams to integrate financials, streamline processes, and manage multiple departments.

Read more details.

Media

Screenshot of the budgeting interface
Screenshot of board-ready charts and dashboards available from any field in a budget.
Screenshot of P&L by Scenario
Screenshot of P&L by Department
Screenshot of P&L by Employee
Screenshot of the Employee Edit Page

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Screenshot of the budgeting interface

Top Performing Features

  • KPIs

    Select from a library of more than 6,000 key performance indicators, and incorporate KPIs into your planning process.

    Category average: 9.6

  • Benchmarking with external data

    CPI, daily exchange rates, industry KPIs. with scheduled data refreshes.

    Category average: 6.7

  • Financial budgeting

    Annual budget for revenue and operating expenses, headcount/compensation, capital expenses, projects, etc.

    Category average: 9.6

Areas for Improvement

  • Color-coded scorecards

    Track and analyze performances with interactive, color-coded balanced scorecards.

    Category average: 7.5

  • Revenue Forecasting

    AI forecasting of future sales revenue.

    Category average: 8.6

  • Automated Budgeting

    Automated reporting and cash flow tracking reacts to real-time changes to more efficiently plan budgets.

    Category average: 7.7

Who Buys & Uses Budgyt

Pros

  • Streamlined budgeting and forecasting processes
  • Intuitive and user-friendly interface for all personnel
  • Effective data hierarchy and roll-up structure management

Cons

  • Reliance on manual data integration from external systems (e.g., QuickBooks, Sage Intacct)
  • User interface and navigation could be more streamlined
  • Performance and speed concerns with increasing data volume

Review of Budgyt

Use Cases and Deployment Scope

We use Budgyt to create easy to read reporting from data downloaded from QuickBooks Online. Before Budgyt my leadership team and board not have clean and easy to access financial data available. It also took us hours to prepare monthly reports - now it takes only about an hour each month.

Pros

  • QBO import
  • Clean reporting
  • Access to those that need to know

Cons

  • Entering/changing data on the backend

Return on Investment

  • Ease of use
  • Time savings
  • Reporting clarity

Usability

Other Software Used

QuickBooks Online, Rippling, Microsoft 365

Budgyt- Great for multi-departmental use

Use Cases and Deployment Scope

We use Budgyt for our annual budgeting process. I am able to distribute large amounts of information across my organization (20+ department heads) easily. We are all able to access the same information in real time and made edits/notes/changes throughout the process without relying on multiple versions of spreadsheets. Previously we were sharing information through spreadsheets and emails. Budgyt allows all information to live in one place for all stakeholders to access.

Pros

  • Ease of distribution
  • Sharing notes and updates in real time
  • Tracking changes
  • Allowing for multiple users

Cons

  • API interface with accounting software
  • Training for non-financial users
  • Detailed notes

Return on Investment

  • Time savings
  • Reduced redundancy
  • Reduced errors/loss of data

Usability

Other Software Used

Emburse Nexonia, Paylocity

Intuitive easy to use with a robust reporting system

Use Cases and Deployment Scope

We use Budgyt for monthly budget-actual financial reports, forecasting, board advisories and statement of cash flows

Pros

  • Can roll up from project to department to division to org-wide with a few keystrokes
  • departmental monthly reports are automated
  • Board presentations practically package themselves

Cons

  • I wish it were a full blown accounting system; it's extremely well done and versatile. It has a complete fixed assets schedule as well as prepaids

Return on Investment

  • time savings have been tremendous
  • improved financial insights
  • provided a lot of clarification and insight into a poorly designed chart of accounts that at least can now be addressed and cleaned up

Usability

Alternatives Considered

MIP Fund Accounting, Blackbaud Financial Edge NXT and QuickBooks Desktop Enterprise

Other Software Used

Blackbaud Financial Edge NXT, Blackbaud Raiser's Edge NXT

Good Budget for Accoutants

Use Cases and Deployment Scope

We use Budgyt to create our budget for the current year. We use it for Forecasting future years and can even compare the forecasts for multiple scenarios. The reporting feature is used to created detailed reports specific for whichever employee needs it. Our monthly financial data is entered and reviewed on Budgyt as comparisons is much easier.

Pros

  • Forecasting
  • Reports
  • Budget/Data Comparison
  • Formulas and KPIs

Cons

  • Importing could be more user friendly.

Return on Investment

  • Time savings for reviews and meetings
  • We anticipate much less time to be used on the budget next year
  • Our YOY comparisons have become easier viewing multiple years

Usability

Alternatives Considered

PlanGuru

Easy financial insight

Use Cases and Deployment Scope

I use Budgyt to manage the budget and financial reporting for our non-profit organization. It allows us to easily view actuals and update projections using our cost-centered model. I love the ease of dissecting financial information through multiple dashboard views.

Pros

  • Provides multiple ways to view the data
  • Allows for multiple scenarios
  • Allow easy comparison to prior periods

Cons

  • Data entry screen can be a little cumbersome.

Return on Investment

  • Saved significant time over the excel sheets we were previously using.
  • Quickly allows different views of budget data for easy comparison
  • Positive investment for us. Savings over other similar tools.

Usability

Other Software Used

Sage Intacct, Microsoft Excel