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Budgeting in a fast-paced environment

Endurance International Group (Endurance) is dedicated to helping small and medium-sized business owners navigate their online journey by providing cloud presence solutions, online resources, security, and business applications. 

Since 1997, Endurance has been partnering with small business owners to become a leading provider of web presence solutions and back-end technologies. With over 2,600 employees across 14 offices worldwide, Endurance is able to efficiently serve its global community of over 3.6 million subscribers on a 24x7 basis.

 

The CHALLENGE

Despite having a very complex business structure, an extensive international presence and a large workforce, Endurance did not have a robust budgeting system in place that could efficiently consolidate, budget, forecast and report on the activities of all of their corporate subsidiaries. At the rate Endurance was acquiring new companies and brands, they knew they needed to implement a flexible tool that could support their rapidly changing business processes, accommodate growth in multiple directions — both domestically and internationally — and be adaptable and easy to use with their ever-changing financial models and processes. Endurance also realized the importance of implementing an advanced currency conversion system to be able to budget, forecast and report in multiple currencies to accommodate their ever-growing international acquisitions and subscriber base.

  

The solution

As a result of the strong partnership with Endurance’s finance team, the robust and flexible features of Neubrain's budgeting solution and the exemplary commitment and financial expertise of Neubrain consultants, the project team achieved the following results:

  • Eliminated the need for previously used brand-specific 3rd party budget management previously by consolidating each all budgeting processes into one robust budgeting and forecasting system.
  • Increased visibility into each brand’s revenues and expenses by implementing a driver-based operating module. Users can now drill down to the General Ledger account level for every subsidiary and brand.
  • Improved monthly forecasting capabilities by allowing the annual forecast to be recalculated on a monthly basis to reflect actuals to date.
  • Automated a personnel budgeting model that calculates salaries and benefits for every employee and accurately plan for new or vacant positions across all brands.
  • Decreased budget error by integrating data on all 150+ products and services into one system, including hosting and registrations of their 3.6+ million subscribers.
  • Improved budget allocations for each partner and brand by incorporating drill down functionality and multiple company consolidation. This eliminated the need for each brand to budget using their own system.
  • Drastically improved reporting capabilities with a currency conversion feature that allows all brands to efficiently consolidate their budgets, regardless of their location or regional currency.
  • Implemented cash and GAAP forecasting functionality to increase insight and analysis into projected revenues and expenses. Also created the ability to generate both external and internal report views to satisfy external reporting requirements without compromising internal reporting and budget analysis.

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