Introduction

In the modern enterprise, leveraging an ERP (Enterprise Resource Planning) system is no longer just about managing daily operations; it's about transforming financial management from a reactive process into a proactive strategic function. By centralizing data from across the organization, ERP systems provide a unified platform for budgeting and financial planning that enhances accuracy, improves collaboration, and accelerates decision-making. This integration eliminates the inefficiencies of disparate spreadsheets and manual data entry, allowing finance professionals to create more dynamic forecasts, conduct robust scenario analysis, and align financial plans directly with corporate strategy, thereby driving greater business value and agility.

This 5-day intensive training course is designed to empower finance, accounting, and business professionals to master the full potential of their ERP systems for budgeting and financial planning. Participants will learn how to configure ERP modules to support various budgeting methodologies, automate data collection, and generate sophisticated reports that provide a holistic view of the organization's financial health. Through hands-on exercises and practical case studies, you will develop the skills to streamline your planning cycles, improve forecasting accuracy, and use your ERP system as a powerful tool to influence strategic direction and achieve your organization's financial goals.

Duration: 5 Days

Target Audience

• Financial Analysts
• Budget Managers
• Controllers and Accountants
• ERP System Administrators
• Business Intelligence Analysts
• Finance Directors
• IT Managers
• Procurement Managers
• Operations Managers
• Strategic Planners

Objectives

• Understand the core components of an ERP system relevant to financial planning.
• Configure ERP modules for various budgeting methodologies.
• Automate data collection and consolidation for planning purposes.
• Generate and analyze financial reports directly from the ERP.
• Learn to perform scenario planning and what-if analysis.
• Streamline the budget approval and communication processes.
• Integrate budgeting with other ERP functions like procurement and HR.
• Ensure data integrity and security within the planning process.
• Customize dashboards and reports for stakeholder communication.

Course Modules

Module 1: ERP Fundamentals for Finance Professionals

• Introduction to ERP systems and their architecture.
• Key financial modules: General Ledger, Accounts Payable, Accounts Receivable.
• Understanding the data flow from transactions to financial reports.
• The role of a chart of accounts in an ERP system.
• Best practices for ERP navigation and user roles.

Module 2: Setting Up the Budgeting Module

• Defining the budget structure and hierarchy.
• Configuring budget versions and scenarios.
• Setting up budget entry methods and templates.
• Integrating the budgeting module with the general ledger.
• Establishing security roles and access permissions.

Module 3: Data Collection and Consolidation

• Automating the collection of historical data from the ERP.
• Using data imports and templates for budget entry.
• Consolidating budgets from different departments or business units.
• Implementing validation rules to ensure data accuracy.
• Handling budget roll-ups and hierarchies.

Module 4: Forecasting and Scenario Analysis

• Leveraging historical data for forecasting models.
• Creating multiple budget versions for different scenarios.
• Performing what-if analysis on key financial drivers.
• Using statistical functions and trend analysis.
• Comparing different scenarios to inform strategic decisions.

Module 5: Reporting and Analysis

• Generating standard and custom financial reports.
• Creating dynamic dashboards for real-time budget monitoring.
• Visualizing budget vs. actuals performance.
• Using drill-down functionality to analyze variances.
• Automating report distribution and notifications.

Module 6: Process Integration and Workflow

• Integrating budgeting with procurement for expense control.
• Linking workforce planning to the HR module.
• Using workflow automation for budget approvals.
• Communicating budget updates and changes effectively.
• The role of ERP in a continuous planning cycle.

Module 7: Implementation and Best Practices

• Best practices for a successful ERP budgeting implementation.
• Managing change and training end-users.
• Troubleshooting common issues and errors.
• Ensuring data governance and integrity.
• Staying updated with new features and system upgrades.

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 7 working days before commencement of the training.