Here is an excerpt from this survey
When asked to select the component(s) of business performance management they are focusing on, the majority chose budgeting and planning. This has been the case since the start of our survey several years ago. Itï¿½s not surprising for two main reasons. The first is pain. Many companies are still using Excel for budgeting and have long ago outgrown it. It creates a labor-intensive, error-prone budgeting process that fails to meet expectations. Until BPM came along, there were not too many alternatives. The other reason budgeting tops the list is that it is a key foundation element for BPM. How are you going to use a dashboard to see how youï¿½ve performed if you donï¿½t have a set of targets (the budget) to compare your actual results against? Operational analytics has been number two on the list for two years running and signals the beginning of a focus
Is your organization using Excel for Budgeting and Planning? You should seriously start considering applications like EPB : Enterprise Planning and Budgeting. I have talked about EPB and its benefits on various occasions on this site.
If you need my help in scoping for any EPB implementation effort then feel free to contact me at email@example.com or use the contact form in the About page.