Using a trusted Business Partner for implementing and maintaining your budgeting solution has several advantages. At eCapital, we believe that we succeed once you realize the benefits of your budgeting solution.  Below are 7 reasons you should use a business partner for budgeting.

1. Partnering for Success 

A common misconception is that the purchase of a new budgeting software is the measure of success.  Instead, a partnership with the greatest value is one designed for the long term.  New software is merely a step in the journey to business process improvement, greater accuracy, timeliness, and reliability when budgeting.  

Just as Batman needed Robin, the Lone Ranger needed Tonto, and Han needed Chewy, your business partner should stand ready to be your budgeting sidekick, taking you to greater heights than you ever thought possible.  

2. Vendor Neutrality 

There is a variety of budgeting software solutions on the market today.  There is currently no ‘one size fits all’ solution on the market.  A business partner’s objective is to make sure they find the budgeting solution that best fits your organization.  

Famously neutral, Switzerland has maintained relationships with all global powers for over a century.  Similarly, on a smaller scale, your business partner should maintain relationships with multiple budgeting software vendors to bring you the most effective solution based on your specific needs.    

3. Endurance 

Vendors and client executives move in and out with the tide.  Look for a business partner with longevity, history and a proven track record.  Look for a vendor with a strong referral network.  Your vendor should have experience in your industry as well.  

4. Guidance 

Every golfer needs a caddy.  A caddy offers suggestions on club selection, and how to play each stroke, considering environmental conditions.  All so the golfer is able to make an informed decision.  Your business partner should provide trusted guidance as you lead your organization in the budgeting process.  They are in place to support your journey and ensure you see optimal success.

5. Experience 

In football, a team isn’t comprised of 11 quarterbacks.  You field a team of specialists, each of which specializes in their role. However, sometimes you need a team optimized for offense, sometimes defense, and sometimes kicking.  Your chosen business partner should have extensive experience.  Teams of consultants who specialize in transforming budgeting processes.  There is no point searching the market for a lone wolf when you can benefit from the support of an entire, expertly skilled team.  

6. Leading from the Front 

In the sport of cycling, one of the key strategies is to ride closely behind other cyclists (in their slipstream) to take advantage of a dramatic reduction in drag, and thus use less energy to travel the same distance.  When you hire a business partner, you ride in their slipstream.  You benefit from their planning expertise and leadership.

Successful business partners sit on vendor’s partner advisory councils, providing them with guidance on where they should invest development resources to best benefit the budgeting community.  

7. Join the Community 

Your business partner should be active within the budgeting community.  This includes a community of clients leveraging different software products, all of whom have a passion to deliver a better budgeting experience to their organization.  As a client, you should be able to join the community, to learn and share, so everyone can become better at budgeting together.

In short, don’t take the risk of budgeting without a business partner. Contact eCapital Advisors today to learn how you can take advantage of the benefits of using a business partner for your budgeting needs.

Rob Melloy

Rob loves to see people become empowered, and seize opportunities uncovered through Analytics. He is focused on teaching people how to leverage technology to make their business, their teams, and themselves more effective, more valuable, and more competitive. Rob joined eCapital Advisors after moving from Australia, where he held similar roles with leading Australian Analytics firms.Rob came up through the office of finance, and is an inactive CPA (Australia) holder.

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