This means that SMEs can now access, via the cloud, idu-Concept, the business software solution that solves all the headaches of managing budgets using spreadsheets. With idu-Concept, financial managers of SMEs can improve turnaround times, increase business unit ownership of budgets, enable integrated and inclusive planning to build transparency and accountability, reduce administrative overload, and improve reporting. Previously only available as an on-site installation, idu-Concept wasn’t feasible for SMEs from a cost point of view, despite the benefits of shifting budgeting and reporting from spreadsheets to the IDU financial management environment.
Now, thanks to cloud-based delivery of the software via AWS Marketplace, SMEs can self-provision the software in a fraction of the time and cost, transforming their budgeting process from a manual and inefficient process to an automated, speedy and accurate one. Self-service installation, supported by video tutorials, can be as quick as a couple of hours with no installation charges. SMEs also get the typical benefits of a cloud-based service: they only pay for what they need; can ramp the service up and down depending on requirements; and there is no need for capital expenditure in on-site hardware.
Idu-Concept fixes the inefficiencies in financial budgeting and reporting by replacing spreadsheets with easy-to-use, intuitive control panels to capture and report on budgets. By providing reliable access to defined and disclosed budgets, idu-Concept allows financial and non-financial managers to be in control of their accounts at all times. Plus, the financial reporting module allows users to keep track of their actuals in real time along with the tools analyse this data against the existing budget.
With 71% of companies using spreadsheets for large financial decisions, and a third saying they have made poor decisions thanks to spreadsheet issues, idu-Concept directly impacts a business’s bottom-line by ensuring accuracy, accountability, transparency and speed to the financial budgeting and reporting process.
"Thanks to the extension of the AWS Marketplace, small and medium businesses around the world can now also revolutionise how they manage their financial budgeting and reporting," said Kevin Phillips, IDU CEO. "No more spreadsheets, errors, lack of accountability and poor decisions thanks to lack of visibility. It is as important for SMEs to avoid these costly inefficiencies as it is for bigger companies. Now, thanks to the economics of cloud computing, SMEs can implement best practice from the get-go."