Pain/Key Case Points Flashcards
Why Nonprofits Choose Budgyt
Difficulty managing multiple funding sources (restricted and unrestricted), ensuring compliance with financial reporting requirements, transparency for donors.
Budgyt Nonprofit Customers (NP Logo Quilt)
Demonstrating trust and relevance by showing other non-profits that use Budgyt in similar verticals.
Us vs. Them (Non-Profit)
Difficulty in choosing the best financial software, fear of committing to a product that may not meet their needs and lack of research of information to properly validate solutions.
Why Choose Budgyt?
Complex and manual budgeting processes; lack of collaboration and error-prone spreadsheets.
Why QuickBooks Users Choose Budgyt
QuickBooks’ limitations in handling complex budgeting and forecasting, lack of real-time collaboration tool and lack of detailed reporting features
Budgyt Onboarding & Data Integration
Challenges with onboarding new budgeting platforms, migrating data and integration issues.
Balance Sheet & Cash Flow Overview
Complexities in managing balance sheets and cash flow across departments and projects.
Budgyt Visualizations Overview
Difficulty in interpreting complex data, need for real-time insights and customizable visual reports.
Budgyt Dimensions Overview
Challenges in tracking and analyzing data across various dimensions, lack of detailed reporting.
Budgyt Reporting & Data Sharing
Difficulty in securely sharing reports, lack of advanced reporting features and a need for real-time updates.
The Cost of Spreadsheet Errors Key Case Point #1
Hidden Cell Errors Can Lead to Significant Liabilities:
Example: In 2008, Barclays encountered a $2.2 billion liability issue when cells were hidden instead of deleted during their Lehman acquisition deal, resulting in unwanted liabilities and extensive legal costs(Budgyt One-sheeters Lib…).
The Cost of Spreadsheet Errors Key Case Point #2
Copy-and-Paste Mistakes Are Common and Expensive:
Example: A cut-and-paste error cost TransAlta $24 million due to misaligned data, and J.P. Morgan suffered a $6 billion trading loss when a Value-at-Risk model was copied and pasted incorrectly
(Budgyt One-sheeters Lib…).
The Cost of Spreadsheet Errors Key Case Point #3
Manual Entry Mistakes Can Overstate Financial Data:
Example: Kodak overstated its payroll by $11 million due to manual entry errors where too many zeros were added. This highlights how manual data entry in spreadsheets can easily lead to large financial discrepancies(Budgyt One-sheeters Lib…).
