Realize value with Unit4’s integrated Cloud FP&A
Organizations increasingly embrace specialist financial planning and analysis solutions to enhance decision-making, optimize operational efficiency, and gain deeper financial insights through accurate forecasting and streamlined reporting.
These solutions enhance collaboration, resource management, cash flow planning, and departmental performance monitoring by offering near real-time financial data updates through Cloud-based tools.
This blog will examine Nucleus Research’s latest 2024 report to show why our customers choose Unit4 solutions.
Samuel Hamway, Senior Analyst at Nucleus Research, summed up his findings about Unit4 saying:
Unit4 offers a unified, agile platform that enhances collaboration and streamlines planning across organizations. Nucleus highlights these solutions’ roles in improving decision-making, speed, and team alignment: organizations utilizing these solutions have seen planning efficiency improve by over 50%. Unit4 enables deeper insights and operational efficiency, significantly reducing costs while boosting planning accuracy. I recommend Unit4’s integrated solutions for those aiming for operational excellence and strategic alignment in today’s dynamic business landscape.
The Nucleus Report
Nucleus interviewed multiple Unit4 customers and discovered that a wide range of product features and benefits at a lower cost than rivals and ease of customization were the main factors influencing their decision to choose Unit4. Here, we’ll examine the key takeaways from the financial planning and analysis report, highlighting reasons why Unit4 was chosen ahead of 19 other similar solutions.
Integrated Cloud software suites
Integrated enterprise Cloud software suites that combine financial planning and analysis (FP&A), enterprise resource planning (ERP), and human capital management (HCM) functionalities are becoming increasingly popular. These suites aim to simplify IT, reduce costs, and improve operational agility.
By consolidating multiple systems into one, businesses can access a comprehensive suite of tools that streamline operations and increase efficiency. This saves time and money and enables businesses to make data-driven decisions, using a single source of truth to drive growth and profitability.
By adopting this integrated approach, businesses can respond more swiftly to market fluctuations and operational hurdles. Automation also reduces manual errors and allows for more efficient resource allocation.
The demand for flexible, customizable, and feature-rich enterprise software is rising to meet the diverse requirements of businesses across different sectors. Unit4 offers solutions that meet these needs within an integrated enterprise Cloud software suite.
Nucleus Research’s assessment of Unit4 FP&A as a solution
Unit4 offers Cloud-based financial planning and analysis tools for finance and accounting teams to help streamline reporting, improve forecasting, and gain valuable insights.
The FP&A solution is a powerful tool that enables collaboration through a shared workspace. It makes it easy for users to share information, monitor progress, and collaborate on budgeting processes.
With its robust forecasting, budgeting, and planning features, the solution supports accurate resource planning, cash flow management, and departmental performance monitoring.
With near real-time, multidimensional budgeting, planning, and forecasting, organizations can track success and pinpoint areas for improvement.
Unit4 FP&A is part of a complete enterprise Cloud software suite that aims to reduce IT complexity, reduce costs, and speed up implementations for organizations seeking to enhance productivity.
The integrated suite approach, which provides a wide range of FP&A functionality, lowers costs, and offers customization options, sets Unit4 apart in a fiercely competitive enterprise software suite market.
Unit4 FP&A helped eliminate 50 to 80 percent of manual financial consolidation work, underscoring the platform's efficiency in automating and optimizing financial processes.
The integrated approach to consolidating, analyzing, and reporting financial data is more effective than conventional, disjointed financial management methods. It offers a comprehensive view of financial performance, simplifies procedures, and enhances accuracy in budgeting and forecasting.
The automation features significantly decrease manual errors and allow resources to be utilized for strategic planning, driving efficiency, providing strategic insights, and enhancing financial agility.
The main reasons why our customers choose Unit4
The Unit4 FP&A system can be customized to meet specific organizational needs, avoiding a one-size-fits-all approach, through dedicated industry models for sectors such as the public sector, professional services, or nonprofits. The building block approach allows for a more efficient and targeted deployment.
During the implementation phase, close collaboration between Unit4 experts and internal IT teams ensures optimal system configuration and seamless integration with existing IT infrastructure.
A scalable approach to implementation allows for fine-tuning and ensures a more successful broader implementation with faster time-to-value. Beginning with a focused implementation, the system's utility can be validated before expanding its use to other areas.
Organizations that utilize an integrated suite from the same vendor, such as Unit4’s ERP and FP&A suite, often achieve higher ROIs due to streamlined processes and reduced IT complexity.
Customer case study
A Canadian IT firm overhauled its financial planning and analysis capabilities by implementing Unit4 FP&A. The firm previously relied on a basic production model for general ledger reporting and lacked advanced features necessary for detailed financial planning.
The transition to Unit4 ERP and the development of a financial planning and analysis module enabled the firm to drive greater financial results and facilitate better strategic planning.
The firm shifted from Excel to Unit4 FP&A for financial operations, which allows for comprehensive financial planning, including HR KPIs and profit and loss analysis. They are also developing a consolidated financial model to streamline financial reporting and analysis.
The adoption of Unit4 FP&A has streamlined financial processes by automating revenue and bank reconciliations. This has reduced the workload by 50 to 80 percent, aligning with the firm's strategic vision of using advanced technology solutions to optimize financial planning and analysis functions.
You can read the full case study and more customer stories in the full Nucleus Report here.
What Unit4 can do for your organization
Achieving operational efficiency is paramount for sustained growth and competitiveness. Integrated solutions are increasingly becoming the backbone of organizations striving to harmonize their operations.
Unit4's suite of tools, including enterprise resource planning (ERP), financial planning and analysis, and human capital management (HCM), offer a seamless integration capability, transforming how businesses operate. By leveraging these Cloud-based tools, companies can not only streamline their processes but also gain insights that drive strategic decisions, all from a single source of truth.
In an environment where actionable insights are the currency of success, the dispersal of data across multiple siloed platforms can significantly impede an organization's ability to make strategic decisions.
Unit4's integrated solutions directly address this issue by aggregating data from various operational facets—financial, human resources, and project management—into a centralized repository. This unified approach streamlines the flow of information and ensures accuracy and consistency across all data points, freeing up time for value-added insights.
By consolidating all critical data, business leaders can trust the integrity of the information at their fingertips, allowing for more precise and timely decision-making. This integration facilitates a holistic view of the organization's operations, empowering leaders with the clarity needed to navigate complexities with a full understanding of their potential impact and driving the organization toward its goals with confidence and precision.
You can download the full Nucleus report here and learn more about the benefits of the integrated approach of Unit4 ERP and FP&A here.
