So easy to learn! It's like the crystal ball for budgeting!

Pros

In the past I juggled several spreadsheets for budgeting, each with different formulas and variables to manage each line item by location. With Budgyt, I can type the formulas directly into the software and everything carries over with the appropriate detail and notes! If I insist on having a spreadsheet to share with the team, I can simply store spreadsheet in the software and tell it which line to read. It not only saved me from a multitude of excel tabs but also gave me the ability to budget and forecast in a fraction of the time and energy! I started using this when our business was just an idea and now we have 4 open retail stores for Everafter and 1 + 2 upcoming for The Westside. Budgeting between the brands under the parent company has been surprisingly simple with Budgyt's ability to customize and target formulas and inputs to certain groups.

Cloud budget consolidation

We have made it easier for budget holders to submit their budgets using this tool. They find it enjoyable to use (and we’re talking budgets here). Budget holders can access the tool anywhere they have internet. The instant scenario consolidation dramatically improved the quality of budget discussions, leading to better business decisions. Using this tool helped make out finance team more efficient, by reducing effort to consolidate.

Pros

This product automatically consolidates budget holders’ submissions, replacing error prone, labour intensive spreadsheet work. Budget managers find it easy to use, and they focus on business decisions, not managing complex spreadsheets. Consolidation is instant, dramatically more efficient for the finance team. Because results are instant, decision makers can see the impact of various scenarios instantly, facilitating impactful discussion on the future of the business and better decisions. Set up is easy thanks to excellent customer support. We import and export data to and from Microsoft GP, and use the budgyt.com tool for budget variance reporting. Budget managers can access information anywhere they have internet.

Cons

The nature of budgeting tools is that the data is displayed in tabular fashion. Although the site renders on mobile devices, it can be hard to read on smaller phones.

We got the functionality we needed at a reasonable cost.

It's been a big step forward that has solved a number of pain points. We've solved the problem of finding a robust but affordable solution that works with QuickBooks. We've eliminated the distribution of monthly reports and budget information by e-mail or spreadsheet and simply have our recipients login to Budgyt. We've overcome the limitations that QuickBooks Online has with budgeting, which are major. We love that there are no limits on the number of users.

Pros

Even as a small organization, we have many departments and projects, which in our case are QuickBooks Online Classes and Sub-Classes. Budgyt was the only affordable solution we could find that allows us to do financial reporting, budgeting, and forecasting at the Sub-Class level. It's easy and flexible to see and analyze data for classes or groups of classes.

Cons

The newly released version of the API with QuickBooks Online has been problematic. We'd have preferred to wait until it was more thoroughly tested and developed.

Use Budgyt to Improve Budgeting over Excel Spreadsheets

It used to take about 40 hours to get our annual budget spreadsheets updated for use each year; now it takes less than 5 minutes. We have been using for 2 budget years now, and each year we have added more available features like staffing and benefit costs to save on other excel spreadsheets. It was super easy to prepare 5 year forecasts the Board demanded.

Pros

Quick setup, easily import actual results, forecast multiple years, easily understood by non financial managers, quick and easy changes to revise or copy formulas

Cons

Not a lot of cons, other than it does take a few times copying and preparing a budget to understand that everything, including actual budgets, actual results and forecasts are deemed budgets and need to be attached to each year for comparison if needed. That is where the copy feature comes in real handy.

Much Better Than Excel!

The benefit with Budgyt is getting rid of the need to use Excel as the primary location to house all the budget data. Sharing permissions are excellent, so now all managers can access their budgets, submit changes, and get approvals all within this software. Their CEO is really awesome, has taken a lot of his personal time to get on a call with me and show me the ropes. He has also been real welcoming of the feedback I have provided.

Pros

Once you get the hang of how the software works, it's easy to enter, update, and recall information within the platform. We got tired of spending hours fixing Excel formulas and formats, and with Budgyt, we can spend more time analyzing our financial progress. I also like their integration with Xero - it means it automatically imports actual financial data.

Cons

Nothing to dislike here. The software already does a good job at what it's supposed to. There can be a bit of a learning curve when using the function formulas, and I haven't had a chance to fully utilize their HR module. There are always lots of features that can add to the software, and I am glad this company continues to deploy resources towards feature releases and fixes.