What makes íforea™ different than other budgeting systems? Budget Management Automation. While other vendors focus on adding bells and whistles, SilTek’s íforea™ focuses on simplifying the process. Estimates for projects/programs are generated at the source using cost models built on years of experience and research. Management establishes priorities and generates a “living budget” automatically populated and scored based on management’s strategies and priorities (including a Sustainability Index). Management runs automated scenarios to evaluate and approve projects, establishing the budget for the enterprise. With built-in workflow, different scenarios can be processed in minutes and a final, executable budget is instantly available and enforced through automation. What used to take weeks and months can now be done in minutes to a few hours. Built on a solid architecture and over 15 years of hands-on budget automation experience working with the Department of Defense, íforea™ incorporates and automates enterprise budgeting and execution tracking as well as implementing practical workflow and document management to quickly and accurately produce an effective, defensible, auditable, and actionable budget.
Integrated Cost Estimating, Budgeting, and Execution
Built-in cost estimating models
Easy to use budget optimization tools for “what-if” scenarios
Reduce budgeting and forecasting cycle times by up to 90%
Decrease errors and improve accuracy
Produce auditable budget documents
Track execution and dynamic rolling forecasts
Make better, faster, and more accurate business decisions
Is your budget process part spreadsheet, part ERP, and 99.9% painful? With all the tools typically involved in preparing a budget, the preparation, verification, approval process, and management of budget data has become something of a black art (a mysterious skill difficult to master or describe). With íforea’s™ budget optimization tool, management can quickly review, approve, disapprove, and prepare actionable and reliable budget information in minutes to hours, rather than weeks and months. Additionally, íforea™ provides an auditable trail for every request for funding all the way back to the original cost estimates and related documentation. íforea™’s Budget Optimization allows management to quickly run different funding scenarios and see what impact changes in funding has to priority projects. In addition, on one screen management can see how projects are supporting enterprise strategies.
Software as a Service (SaaS)
íforea™ is available as a cloud-based, Software as a Service application. Data is managed and stored using a highly secure, 24/7, on-demand high availability infrastructure with advanced backup and unlimited storage. Software as a Service offloads costly infrastructure requirements, patch management, and security to reduce the overall cost of ownership as well as ensuring access to the latest features and functions without disruption to your enterprise. Ask one of our budget expertise how you can take a test drive today.
You can’t manage what you don’t measure. Sustainability has become one of the most important yet misunderstood terms applied to the business environment. SilTek’s íforea™ incorporates a practical methodology to optimize funding based on object sustainability measures. The sustainability index is unique to íforea™ and automatically calculated and managed along with the cost estimate. This advanced feature allows everyone up and down the enterprise to see the sustainability impact of their choices as projects are created.