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Budget Management

Human capital is recognized as one of the most precious assets for enterprise. Each budget is based on scientific forecast, therefore, labor cost forecast is becoming more and more important in the development of modern enterprise, which is closely linked with enterprise activities, including staff management, welfare state policy and compensation forecast, labor cost budget, budget result adjustment, budget implementation tracking, accurate estimation and management based on a mass of data, etc.

The Budget Management module is able to forecast and track the enterprise future labor cost. It supports user to set up different assumed conditions flexibly and obtain precise budget data through automatic bonding with historical and relevant data of Employee Information Management module and Payroll module of Platinum HRM to conduct fast calculation and then export budget result by using Excel template. Moreover, it can revise and track the budget data after budget available so as to meet various budgeting managerial requirements in all dimensions.

Gorporation Budge Setup

Budget Year Setup. Flexibly define budget for different years.

Budget Tracking Setup. Support diverse budget types to co-exist and mutual independent.

Position Parameter Setup. Flexibly manage different position parameters and the position parameters can be applied to calculation and adjustment for different budget items.

Position Budget Item Setup. Set up corresponding budgets item according to different positions.

Corporation Budget Item Setup. Set up unified corporation budget item, which is able to furnish unified group budget report on the premise of flexible setting of separate payroll systems.

Virtual Department List. Setup virtual departments in specified budget year.

Virtual Position List. Setup virtual positions in specified budge year.

Budget Model Management. Support distinct compensation items and models to co-exist.

Group Budget Setup

Position Maintenance. Flexibility in managing different position parameters, which applied to calculation and adjustment in different budget items.

Cost Center Setup. Setup virtual cost center on demand, as well as adjust and allocate cost by individual.

Welfare Policy Forecast. Forecast regional welfare policy changes and support separate welfare policy forecast of different payroll systems in the same region to meet diverse management requirements.

Budget Item Definition. Classify compensation items of different payroll systems and map them into group budget item.

Budget Model Definition. Flexibly support different budget models. Each budget item can match the recent historical, homophonous historical, historical maximum/minimum and historical average values, etc. Moreover, budget items can be allotted into specified month. Support comprehensive and systemic setting to some particular budget items such as overtime, etc.

Budget Setup and Adjustment

Staffing Plans Definition. Support management of staffing sheets of annual budget in branch offices, simulation of the staffing sheet valid and fine adjustment.

C&B Related Budget Generation. Support rapid trial calculation for compensation and benefits items based on different headcount plans. Rapidly generate different versions of labor cost budget sheets according to different compensation adjustment ratio and methods for the management review. Comprehensively handle forecast and result for all positions changes, including new hires, transfer, termination and merge, etc.

Budget Adjustment and Tracking. Support budget adjustment and tracking. User can revise the budget result periodically or aperiodically to get the most accurate data and save as a new file. Support continuous tracking after the effectiveness of budgets and revisions.

Budget Data Comparison. Support data comparison and continuous tracking for any budget versions available.

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