Budgeting software specialist ALG software plans push into business performance management

Activity-based costing and budgeting software specialist ALG Software has revealed plans to push further into the business performance management market later this year by launching new scorecarding functionality.

Richard Barrett, vice-president of global marketing, said the UK firm plans to launch a new scorecarding module in September that will integrate tightly with its existing budgeting suite.
He said the enhanced suite would allow firms to set financial or key performance indicator targets on a scorecard and measure performance against it.

By integrating the functionality with ALG's existing budgeting capabilities, managers will also be able to translate targets into budget projections; model the actions required to ensure those targets are met; and gain data on the costs of modelled strategies, Barrett added.

"The net result will be better-informed decision-making by managers and closer integration between financial and non-financial aspects of the business, " Barrett argued.

The new scorecarding functionality will also help ALG's strategy to enable firms to reforecast financial budgets more frequently, according to Barrett. He said a recent survey by ALG found over half of organisations thought they could not reforecast often enough and so struggled to detect problems early.

Barrett argued that budgeting software that can monitor performance on a granular level could help firms could break down the barriers between the finance department and the rest of the business. "Budgeting is not just a financial issue, it is an enterprise-wide issue," he said.