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Budgeting for the Future

For more than 80 years, the Tarrant Regional Water District (TRWD) has provided quality water to its customers, implemented vital flood control measures and created recreational opportunities for Tarrant County residents and communities. As one of the largest raw water suppliers in the state of Texas, TRWD provides water to more than 1.7 million people in the North Central Texas area.  

 

The Challenge

Supplying water to millions of residents and managing a sophisticated flood control systems require TRWD stays on top of critical data, including data that drives budgetary, financial, and cost allocations decisions.

The TRWD’s in-house budgeting system was inefficient and lacked features in support of critical tasks, like, for example, multi-year budgeting, scenario analysis, cost allocations, process controls, data valuation checks, and exceptions reporting. Despite having a fairly sizable workforce, TWRD had to rely on using numerous Excel spreadsheets to budget and forecast salaries, health benefits, merit increases and other personnel-related costs. This disjointed approach to budget management often resulted in inefficiencies, delayed reports, and unreliable information.

 

The solution

Working in partnership with TRWD personnel, Neubrain implemented a new budgeting and business analytics solution. The benefits of the new system include: 

  • Fast implementation using Rapid Application Development (RAD) principles.
  • Dramatically reduced budget cycle times from months to days.
  • Optimized, automated and integrated organizational budgeting and planning processes by creating a robust, flexible and intelligent framework with minimum data entry, efficient spreading methodologies, exception analysis and alerting.
  • Enabled tight integration between Neubrain Budgeting system, Lawson HR and IBM Maximo systems providing a single version of truth for all budgetary and actual-to-date information.
  • Optimized personnel budgeting processes with a driver-based approach and scenarios analysis to be able to quickly analyze impact of changes in health care, COLA, merit increases and other drivers of personnel cost.
  • Automated complex budget and actuals cost allocation processes related to multi-fund project structures.
  • Enabled long-term budgeting and planning.
  • Improved collaboration and communication between various stakeholders in the budgeting and actuals analysis processes.

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