“Smart Forecaster” delivers higher speed and improved accuracy in forecasting through automation and AI-based functionality; “one click” forecasting functionality reduces errors and returns valuable time back to finance professionals
Unit4, a cloud leader in enterprise software for services organizations, today announced the latest version of Unit4 Financial Planning & Analysis (FP&A), including new capabilities enabling finance teams to more intelligently forecast and plan, helping organizations make better decisions more quickly and effectively.
While many vendors offer AI-powered solutions today, Unit4’s new tool, Smart Forecaster, extends intelligent forecasting to business users across the enterprise. This new capability leverages Artificial Intelligence to help finance teams forecast more frequently and accurately by using historic data combined with influence factors and scenarios. Smart Forecaster is available to customers through Unit4’s early adopter program.
In addition to Smart Forecaster, the company announced the availability of Solution Builder, a tool that provides quick modeling capabilities, which enables finance teams to respond to new business needs and requirements such as cost center calculations, changes in P&L, or scenario planning in a secure offline environment. Once complete, the tool easily and securely transfers some or all of the elements into the live production system as determined by the user.
Also, in this new release, Unit4 FP&A delivers enhanced dashboarding and visualization capabilities that will help finance teams create reports for non-finance users with flexible, easy-to-understand business intelligence translating into actionable insights and solid, data-driven decision making.
Companies such as Swiss Life, Villeroy & Boch, UK-based Magnox and Swiss-based retailer Migros Aare have selected Unit4 FP&A to drive their critical forecasting and planning requirements.
“The fact that we can now rely on one single version of the truth saves us a lot of time. Previously, we had to double and triple-check a multitude of Excel lists. Now we can use this time to focus on the contents of our data as well as further analysis”, says Pascal Speicher, Corporate Financial Controller & CPM Project Leader, Villeroy & Boch.
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Unit4 FP&A, a competitively priced solution for mid-market people-centric services organizations, frees your team to spend more time delivering insights and creating value for the business. We help you more comprehensively understand the numbers and then turn that insight into action for better business results. We do this by combining automated, AI-driven planning, forecasting, reporting and analytics with highly interactive dashboards and powerful, pre-configured models to leverage better decision making. Unit4 customers realize a quicker time-to-value through the ready-to-use business content built into the solution; functionality that is not available from other vendors in the market today. The solution is available standalone or fully integrated in the company’s People Experience Suite which also includes ERP and HCM.
Gordon Stuart, CFO at Unit4, said: “Finance teams have always played a central role in helping set strategy and build plans by the nature of the function. With the onset of market changes as a result of COVID-19, the need now to evaluate and often reshape those plans, at a moment’s notice, has become core to what FP&A teams are asked to do. Unit4 FP&A with its new Smart Forecaster and Solution Builder functionality has armed them with the ability to do it quickly and accurately. And that, coupled with enhanced dashboarding and visualization capabilities, makes complex data-based information accessible and understandable to those that need to understand it and, in turn, expedites the decision-making process and velocity with which new or revised strategies are set in motion.”
At this week’s Experience 4U virtual global event, Unit4 FP&A customers DOF Group and Migros Aare were among the speakers, talking about their own experiences. DOF Group, a complex group organization providing subsea project and marine services, is enhancing ERP functionality with Unit4 FP&A to simplify, automate and align its business and financial planning processes. Migros Aare, a cooperative of Switzerland’s largest retail company, Migros, uses an innovative way of forecasting on a per-day and per-store level with Unit4 FP&A, that makes the lives of store managers easier and helps the company achieve a higher accuracy for its annual budgeting.
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