SGP - Smart Government Planning | Diamond
Take the first to smart planning … The solution is characterized by the ability to plan financials, human resources, programs and projects and provides decision-makers with the tools for financial forecasting and “What if Analysis” to analyze budget items.
How does Smart Government
Planning work?
Financials
Forecasting revenue and expenses is really more art than science. Proper financial forecasts will help you develop operational and staffing plans that will help make your business succeed. Past data is collected and analyzed so that patterns can be found. Many types of forecasting methods used to predict revenues and expenses such as growth rate, moving average and linear regression.
Programs & Projects
Programs and projects are planned to assure liquidity is linked with the total cost to achieve a comprehensive view of expenditures. The increase in total costs of programs and projects also calculated and justified with progress made. The system provides a feasibility on the potential risks and prioritize projects and programs according to the strategic plan and objective.
Capital Assets Planning
Capital asset planning and budgeting model allows asset purchase planning with forecasted depreciation based on asset category and depreciation methods. Existing assets are extracted from ERP with related depreciations /amortizations. Planning of transfer between departments, retirements and forecast of maintenance and insurance can be calculated for existing and new assets.
Medium and long-term Planning
Planning the expected expenditures for three or five years, during which the expenses are entered with the expectation of an increase or decrease in the total budget to enhance the financial forecast. Also, the monthly expenses model shows the required liquidity movement through a monthly presentation of the amounts based on the economic classification of the budget for next year, which reflects the cash flows based on the work plan.
Approval Cycle
The budget is reviewed and approved within the sector or the requesting department then promoted to the budget department, which study, analyze, and discuss the budget requested, justifications and limitations submitted by the requesting party up to the final version of the budget, which will be presented and approved by the authority.
Budget Transfers
Once the budget approved, the execution of the budget starts, which may requires conducting transfers between budget items and/or departments. The transfers based on logic and instructions to Verify the general conditions to transfer amounts and then presented to management for approval.
Budget Analysis
Analytical data is provided through what-if, dashboards and ad-hoc analysis techniques, which gives the budget analyst the ability to build insights and drive to actions related to budget versus actual, bottleneck impacts the budget process efficiency
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