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M/I Financial, LLC
Success Story

Industry:  Mortgage Lending
Role: SVP, Corporate Operations
Accounting Software:  JD Edwards
Users:  30
P&Ls:  35


THEIR Ask

Pat Begg, SVP of Corporate Operations, had inherited a complicated spreadsheet with many budget templates from his predecessor. It had many formulas and linking errors. He had so many Profit and Loss statements to manage that the Budget Templates were hard to maintain and even harder to have his users help him. He didn’t have the time to manage the spreadsheets. He wanted a budget product that would be able to replace his complicated worksheet. He also wanted a solution that would export the data from Budgyt so he could import it into JD Edwards for their internal reporting needs. He was interested in a solution that would also show his users budget to actual data. His accounting team required an excel import of his budget for their reporting. He also wanted something that would only show his local and regional managers just the data he wanted them to see.

THEIR Challenges

We had to recreate all of his formulas from his budget templates. He had formulas that applied to each profit and Loss but he wanted a place to update the inputs in one spot. In his templates he had to go to each tab and enter the data there. It was in random spots and he had to audit where the formulas were linked to.

Secondly he wanted to show expenses from one cost center and allocated them to the other profitable centers based on the number of loan dollars generated.

Lastly he needed an import tool that would allow him to see historical data versus the budget data for benchmarking.

OUR Solution

We recreated his formulas in Budgyt and he no longer has to worry about any formula errors or links. We then showed him how to convert the JD Edwards export file into an importable file for Budgyt. This allows Pat to use the export budget feature that creates an importable file for his parent company accounting team. In addition, we also created user IDs for all his team and they have access to only their particular cost center providing data integrity and security.

WE DeliverED

  • He can create a revised budget in minutes and adjust inputs quickly to play with different scenarios.
  • He has an error free solution that meets the needs of his parent company that wants the budget in an importable format.
  • He now has less stress over the complicated budget process he had before. The formulas are correct and cannot be broken.