Great Product for Mid-Sized Organizations
April 01, 2025

Great Product for Mid-Sized Organizations

Steve Maciel | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Budgyt

Budgyt is our financial planning and analysis software, used primarily for distribution of monthly financials to all department heads and for the annual budget build/approval process

Pros

  • Budgyt has a strong hierarchy structure (i.e. department, program, project) for roll up of various functions into their department
  • Allocation of shared costs, especially salary and benefits across various funding sources
  • Quick and easy switching between views (i.e. actual to budget, 3-year actual trend, 3-year budget trend)

Cons

  • Visualizations integration into core product
  • Balance Sheet functionality in core product
  • Allowed us to move from a very onerous manual spreadsheet-based annual budget process, where consolidation was difficult and time consuming, to a fully-online cloud-based product.
  • Individual department head logins with security to restrict access to only what they should see. We have over 20 different departments, so the ability to enable a user at setup to see only their departmental results is an improvement over the manual security Finance maintained in the spreadsheet world.
  • Drill down into monthly financial results at the journal line level makes it easier for management and department heads to verity their financials. Previously, any unknown transactions were manually submitted to Finance with a question as to what was the vendor and/or payment associated with.
It is very intuitive to use with only minimal training. Views are selected easily with drop down menus and check boxes as far as individual projects to include/exclude. There is strong allocation features (i.e. salaries attributed to several individual grants or several functions). Templates are easy to use and understand, and import functionality has strong error checking capabilities.
I have implemented Budgyt at two different organizations. Both have a fairly complex departmental structure and requires reporting at several GL sub-segments (for instance, restricted funds). Both had twenty or more separate departments with individual profit & loss for each. Consolidation is easy and intuitive. Multiple budget versions (i.e. separate years) and variations (i.e. quarterly forecast update) are easy to create, with a good amount of automated capability. For instance, a report showing 9 months of actuals with the remaining 3 months of original budget is easy to create.
Adaptive Planning is more complex and considerably more expensive than Budgyt. Budgyt does a nice job of meeting the sweet spot of being very capable without being onerous.

Do you think Budgyt delivers good value for the price?

Yes

Are you happy with Budgyt's feature set?

Yes

Did Budgyt live up to sales and marketing promises?

Yes

Did implementation of Budgyt go as expected?

Yes

Would you buy Budgyt again?

Yes

Budgyt is great for instant consolidation of a multi-department and multi-entity organization. It has strong hierarchy and roll-ups at various levels. User setup and security is straightforward, with ability to restrict data to only department heads over a project. Excellent capability in salary and benefit calculation, for instance down to each type of state and federal tax, and each type of employee health benefit with individual cost as specific as necessary. Strong export functionality.

Budgyt Feature Ratings

Long-term financial planning
9
Financial budgeting
10
Forecasting
10
Scenario modeling
9
Management reporting
10
Financial Planning Collaboration
9
Budget Customization
9
Departmental Budgeting
10
Import & Export Tools
9
Personalized dashboards
9
Cost and profitability analysis
9
Key Performance Indicator setting
8

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