Prodigy’s new Budget Companion is another industry first in automating the production project budgeting process for global marketers. For the first time, marketers can tie purchase orders of individual projects directly to production data (estimates, supplier bids, invoices and deliverables) as an interface with enterprise financial systems.
Budget Companion is an ideal solution for marketers who aren’t looking to overhaul or replace existing enterprise-wide financial management systems, but rather add intelligent automation to the frontline business owner’s budget process. Prodigy interfaces with marketer financial systems to bring time and workflow efficiency with minimal change management interruption.
Here’s how Budget Companion works:
Marketers submit projects for funding.
Projects are routed to the funding team for PO assignment.
Funded projects are routed to the marketer with PO information.
Funded invoices are routed for payment.
Marketing budget facilitators can run “accounting ledger” views for all projects within Prodigy to determine PO and funding status at a glance - and then proceed to reconcile using the platform’s automation with auto-email notifications to the appropriate teams.
For most marketers, managing the approval, funding and tracking of production projects is largely manual and spreadsheet-based – and as such, more time-consuming than necessary. From an accounting standpoint, tracking what was budgeted versus what was actually spent is manual as well. Prodigy designed Budget Companion with the same cloud-based, machine learning workflow approach used in creating its production data platform and married it all into a single interface for clients.
Visit www.pagprodigy.com to learn more and see a demo.