We write a lot about what True Sky can do for your business – from shortening your annual budget planning process, to helping you switch from an annual budget to rolling forecasting, to helping you maintain a flexible, realistic financial picture of your business.
But what exactly is True Sky, and how does it work?
True Sky helps you simplify the budgeting and forecasting process using the familiar interface of Excel.
That’s right: True Sky’s budgeting and forecasting software uses the same Excel interface that you learned how to use in school or at your first job. It takes the clean, simple, and familiar Excel setup and adds a wide range of tools specifically designed for budgeting and forecasting.
In addition, True Sky can integrate with any electronic data source. When you use True Sky, you don’t have to worry about whether your systems can talk to each other. True Sky allows you to access all your information from a central location, saving time and effort.
True Sky’s specialized tools allow users to add detail and context to their entries.
One of the key features that allows for accuracy in the numbers is the ability to provide a richer or more three-dimensional budget. Instead of simple rows of numbers, users have the ability to include attachments, comments, and other details that add context to either a single entry or the overall financial picture.
Then, when a supervisor or CFO needs to review or approve the budget, they can see more than the projections: they see the thought processes that went into creating these projections. What this means is that you spend less time emailing about the reasons for a particular number in the budget. Instead, you can see the supporting details right in front of you.
True Sky was built to function the way the average worker thinks.
Most people put off working with the budget because it’s confusing, tedious, or requires them to think like accountants. If you’re not in finance, you most likely don’t want to deal with:
- GL accounts
- Fixed expenses
- Variable expenses
Instead, you just want to keep track of the money your department has brought in or spent. For example, if you travel to a business conference, you have set travel expenses: flight or train tickets, hotel, food, etc.
In True Sky, you can create a budget based on this or any event, with an entry for each type of expense. It’s simple, clear, and will help encourage users to work with the budget on a regular basis, instead of saving up all their entries for the last day of the month.
True Sky includes a “What If?” Analysis.
One of True Sky’s most powerful benefits, as a financial forecasting software especially, is its analytics capability. This includes a tool that allows users to build alternate versions of a budget. This “What If?” scenario generator lets you test out various assumptions in the budget, seeing how they would affect the big picture.
This is a great tool for CFOs and their teams, as it allows them to actually see how a seemingly small change can affect the rest of their financial outlook.
Easily manage reporting and automate your data capture.
Using the same Excel interface as the rest of True Sky, users can design and deploy any type of report they need:
- Sales reports
- Income statements
- Cash flow statements, and more
Users can pull static or dynamic reports, complete with graphics.
True Sky also allows you to improve your data collection through automation. Rather than having your employees take valuable time out from their day to input simple data, you can automate your data capture.
This not only frees up your employees’ time, but it also eliminates the risk of human error. Each item you open your budget, you’ll know that the numbers you’re seeing are current and accurate.