Hi David, I've seen that many organizations start with a single finance model for the overall budget/forecast, eventually branching out with other models dedicated to specific planning processes such as sales, COGS, or HR. These new models will typically involve new sets of dimensions that aren't relevant to the rest of the general finance model, which I've found is also a good criterion for deciding when a new model is needed.
Regarding model design, I've found identifying specific gaps/enhancements a great way to kickstart design ideas. For example, are we trying to automate away a tedious sales-based bonus calculation, or are we trying to standardize how all our teams calculate benefits, or are we looking for an efficient way to track and forecast a mix of full-time/part-time/contract resources? A well-defined set of goals also guides the build process and ensures each step moves us in the right direction as we build out the dimensions, data sources, data pipelines, templates, and workflows.
Let me know if you have any specific challenges or new capabilities in mind. I'd be happy to share some design ideas on them.
@Josh Weinberg I know I'm very late to this thread, but I'd be very interested in seeing how you budget at a Job Code level rather specific employees. This is something we've been talking about internally a bit, but don't really know where to start. Conceptually, I think our biggest hang up is that we have employees who have to be allocated across multiple Grant codes and I think the worry with pursuing a Job Code rather than Employee Code is that it might be harder to ensure that an actual employee is allocated 100%.I'm thinking of something like what I've drafted below where you'd plan by Position/Job title/code and then you'd plan units and need a mechanism to ensure each position added up to 100% (or some factor thereof), but I'm struggling to think through how I could then assign actual employees to these positions, consider turnover/transfers across a period of time, and ultimately get the information formatted in a way to into our accounting system's monthly payroll reconciliation and splitting of actual employees allocation which are sometimes dependent on the amount of actual effort tracked through timesheets. Sorry, throwing a number of challenges out in that sentence, but these ideas all feel so related.
hi @Brendan Eger not sure I can distill what we do meaningfully to a post - but more than happy to talk through what we do (time zone permitting). Ultimately we have a couple of different staffing planning spreadsheets that ensure each job code is allocated 100% - essentially there is a home 'project' where their costs go by default, and then costs get taken out to to any places they are recharged to.
This is mirrored in the payroll workings - and probably slightly duplicated. I'm glad we don't have timesheets! There's significant monthly Finance Business Partner effort that goes into the processes.
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