Introduction to Budgeting
The Ormed Budgeting system is flexible and helps you create a budget quickly and easily using industry-standard best practices. A salary budget can be generated by employee, position, or account. If employee is used, it will roll up into position then into account. The flexibility is also there to budget certain salary items like regular, sick, vacation, etc. at the employee level while budgeting for shift diff, call, etc at the position level.
No Nonsense Budgeting
The non-salary accounts can be budgeted by account by detail item. For instance, a maintenance contact account can be detailed by contract or a supply account can be detailed by item. Each detailed item can also be spread monthly using a different table and be defined as fixed, variable or a combination.
A capital budget can be created with monthly depreciation spread and depreciation posted to the appropriate account. An approved check mark defines what is actually in the budget and what is item on your wish list
Flexible Dataset Customization
Not every organization fits neatly into 12 month fiscal years and standard FTE hours, but regardless of whether or not your organization fits, Ormed Budgeting has you covered. Completely customize datasets per your organization's needs, whether typical or non-standard, and make confident decisions hassle-free.
- Define hours per full-time employee and number of periods per fiscal year
- Choose from a variety of default export file types, and export files to email addresses
- Import data from various file types or directly from other Ormed applications
- Budget in anywhere from 1 to 13 periods
Data Modeling for Proactive Budgeting or "What If" Analysis
Ormed Budgeting's modeling features allow you to modify large amounts of data quickly and easily to forecast change impact and associated pros and cons.
- Define and modify assumptions to evaluate the impact of facility changes such as inflation, new service, equipment purchases, pay raises, union contracts, etc
- Anticipate and review average revenue realizations
- Project charge item price and volume changes
- Make percentage changes by account standards, procedure volumes, charges, allocations, or revenue realizations
Helpful Utilities Out of Box
Working with your organization's data requires soundly-designed, flexible utilities: data auditing, import/export, and more. Ormed Budgeting comes loaded with powerful and practical utilities to ensure your organizational needs are taken care of.
- Import assumptions between datasets
- Import and export costing data with simple mouse clicks
- Import GL and payroll data from any system using designated spreadsheets
- Maintain users; add, modify, or remove users and passwords effortlessly
- Create reports for facility reconciliation
Flexible budgeting is the process of adjusting budget amounts based on volume and intensity of services. All variable budgeted accounts will be adjusted for changes in statistics. Monthly volumes and statistics are downloaded each month and reports are provided by account and department for the current period and year to date.
- In-depth reporting by department, manager, reporting group, or facility
- Actual GL balances can be pulled directly from the Ormed GL
- Current period and year-to-date variance are produced including efficiency and rate variances for all labor accounts
Extensive, Detailed Reporting
Whether you are small, large, or anything in between, your organization needs detailed reports to ensure continued smooth day-to-day operation. Like all Ormed software suites, Ormed Budgeting contains an impressive selection of built-in reports based on organizational best practices.
- Summary reports ensure important budgeting totals are ready for review for upper management
- Departmental reports make managing department budgeting a breeze
- Multiple budget reports compare up to 3 budget scenarios
- All files can be output to a report or spreadsheet
- Flexible budgeting reports provide data by account and department
- All reports can be reviewed on-screen, printed, or exported to a variety of file types (Excel, Lotus, PDF, HTML, etc.)
Expert and Complete Implementation Assistance
Expert consulting assists you through the entire implementation process, including one-on–one training of the budget staff.