Building budgets from the activity up builds credibility. ...budget becomes fact based and facilitates risk-based decisions.

— Alcoa

Overview

Alcoa was the driving force behind our developing the WorkAlign Maintenance Budgeting solution. We collaborated to develop a solution with 3 budget creation options: Auto-Budget, Zero-Based, or Historic Actuals. And since so many companies use spreadsheets, we designed our simple user interface to simulate that experience but fully-integrated with Oracle eAM.

Highlights

  • Oracle Gold Partner – Integrates in real-time
  • Create budgets that integrate with corporate finance tools
  • Simple User Interface that simulates the spreadsheet experience
  • 3 Budget Creation Options: Auto-Budget, Zero-Based, or Historic Actuals

VIZIYA WorkAlign® Maintenance Budgeting, a purpose-built solution simplifies asset-based budgeting with real-time views of predicted work orders and historic trends. Companies are challenged to keep multiple budgets in sync across the organization. Current maintenance budgeting tools are disconnected from your Finance systems, making it difficult to track your maintenance spend. As a true add-on to your system, Maintenance Budgeting allows you to manage and control the cost of maintenance, leading to a stronger bottom line.

Regardless of how you budget today, Maintenance Budgeting can bring transparency to the process. With the capability to create zero-based forecasts, what-if scenarios, as well as budgets based on historic actuals, Maintenance Budgeting delivers data intelligence that is pragmatic and realistic. Total expenses are captured for each asset, grouped, and then rolled up through flexible asset and budget-based hierarchies. A user friendly and intuitive solution, Maintenance Budgeting’s out-of-the-box real-time KPIs makes periodic updates simple.

Unlike spreadsheets, work order activity and financial data is always up-to-date with VIZIYA’s proven bolt-on integration software. The effort to create and update a budget is reduced significantly while satisfying both Finance and Maintenance’s requirements. An out-of-the-box complete solution, Budget continues to be updated with new feature enhancements, without costly customization and upgrades.

Maintenance Budgeting Key Features include:

Create Budget Groups

Budget Groups allow the maintenance organization to assign and create ownerships and approvals based on groups to build into the corporate budget hierarchy. Additionally, create Report Groups where analysis can be performed outside of the hierarchy.

Improve Cost Management with Accurate Annual Budgets

Gather all expected costs for all scheduled work orders including scheduled and forecasted PMs. Review historic actual data. Allow users to create a budget based on predicted work orders and historic trends, with the ability to modify budget values as necessary. Armed with data to predict and adjust, accurate budgets will improve the cost profile.

Improve Reporting with Creating Asset Groups

Assign assets to groups (no limit) and arrange in hierarchy as required to align with the corporate financial structure. Create budget roll-ups based on groups and reporting needs.

Save Time and Ensure Accuracy with Auto-Budgets

Auto-Budget populates PM Activity Costs and Historical non-PM Costs. It calculates a future PM forecast and assigns cost estimates to the asset budget. After reviewing the estimates, costs can then be spread manually by the users or assigned via rules across multiple periods. Budget displays historical maintenance costs for assets and allows users to bring costs into a new budget.

Add Intelligence and Comparison with Zero-based Budgeting

Zero-based budgeting assumes that there has been no history. This approach is sometime used to establish a baseline using performance expectations or industry norms as a basis of comparison. Budget creates a zero-based budget for each asset. Users can manually enter transactions that can be spread across fiscal periods, as desired.

Screen Shot WorkAlign Budgeting

Check out our Oracle eAM Maintenance Budgeting resources that include:

Oracle eAM Maintenance Budgeting data sheet

Maintenance Budgeting with Alcoa webcast

Solving Maintenance Budgeting Challenges white paper

Why Maintenance Budgets Matter white paper

For other best practices webcasts and white papers, check out our Resources library.

VIZIYA DRIVES EACH STEP OF THE MAINTENANCE PROCESS

Click on a section of the Maintenance Budgeting gear to learn more.

Enhance Work Process

Analyze

  • Achieve budget targets
  • Analyze root cause of variances

Identify

  • Create Budgets in maintenance structure
  • Roll up Budgets for finance

Plan

  • Control and manage costs
  • Improve data for decisions
  • Create transparency
  • Rely on 1 source for data
  • Spend time on analysis vs. creation
  • Achieve budget targets

Schedule

  • Monitor Budget throughout the month/period

Execute

N/A

Complete

  • Rely on 1 data source

Optimize Asset Performance

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