How it Works
The FAST Budget and Forecasting application allows for both centralized and decentralized Budget development, management and Forecasting. This enables departments to view and edit numerous budget scenarios, forecasts and multiyear plans for their areas. It allows for detailed entry of dollars and FTE information, and can track down to the employee and position level. There are numerous automation features to enable accurate and quick entry such as decentralized Budget Transfers, integration to your Human Resources ERP system, excel import features and various data entry options.
Features
Budget and Forecasting features include:
Central budget management and administration
Create and manage budget series for multiple fiscal years
Unlimited What-If scenario planning which can be restricted to different groups
Budget can be created using data from multiple sources including prior and current years budgets or actuals and external sources such as Microsoft Excel, your payroll or HR system
Establish position budgets and track actual budgets against this plan
Track budgets by month, quarter, annually
Decentralized Budget Development, allowing for both detailed data entry down to the employee and position level
Allows users to see how much budget they have had in the past, actuals and what their planned budgets are in the coming years
Allows for budgeting and forecasting for future years including capital
Decentralized Budget Transfers allowing for transfers to be sent for multiple approvals before getting finalized and posted to both the budget and the GL
Allows for tracking of various data elements including position, employee, Dollars and FTE
Develop and plan In-Year and Multi-Year Forecasting
Automated benefit model to allow salary information to be automatically encumbered with benefits to either pooled or decentralized accounts
Integrates to ERP Finance to provide actuals and commitment data
Integrates to ERP HR to extract job and position information and report on variances
Create forecasts by month or quarter with comparisons
Position Planning allows users to load and manage Position Budgets and coding distribution directly in FAST and directly sync that data to the ERP system
Rapid Deployment
100% web-based and platform independent. Accessible using current web browsers including Edge, Chrome and Safari.
No client software to install and maintain. Timely data is in the hands of people who need it, when they need it – and no printing required.
Remotely installed by Millennium, FAST can be installed and operational in a single day. It’s also easy to customize to fit the needs of your institution.
Installation, business rules, customizations, maintenance and support are all included in the purchase price and annual maintenance package.
Features Included With Every Module
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Access the data you need when you need it.
Sound too good to be true? It’s not. Millennium FAST software makes it possible. We’ve been improving Higher Education Administration functions for over 20 years. Use our delivered reports, or build your own with our flexible toolkit. You’ll be up and running in days, not weeks or months!
Contact us for a no obligation live demo today, and see for yourself!
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Email-based submissions are typically reviewed between 7:00am–5:00pm (PT). To create a ticket, just email customersupport@mcsl.com