Planwhiz + MobLab

Challenge: Involving stakeholders in budgeting process with proper access control and approval workflow

It is important to involve budget owners in the budgeting process from day one. However, with Excel and Google Sheets’ lack of proper access control, it becomes challenging to control what information to share and what information to hide. Additionally, without an approval workflow, it is difficult to identify what is approved and what is still under discussion.

“I was always in Excel/Google Sheets to maintain all different versions and copy paste different approved sheets for different budget owners to my master sheet. Me and my team always make jokes about how many finals we have in our final-final-final version of budget”

Solution: Remove manual departmental/business unit level consolidation and align budgeting details with budget owners

With Planwhiz, MobLab was able to complete a zero based budgeting process this year. Using the tool, the CEO was able to assign a deadline for every budget owner to input their assumptions and detailed spending at the vendor level into the system. This removes the need to manually copy and paste in Excel and Google Sheets, which not only slows down the process but can be subject to human error. Planwhiz also allows detailed note taking per assumption, which allows for review when the need arises. Department owners responded positively to more involvement in the budgeting process, which led to a higher degree of transparency and responsiveness. Using Planwhiz, MobLab was able to improve the quality of board meetings by creating a foundation of trustworthy budget numbers.

Name: Walter Yuan

Title: CEO

Implementation Time: 2 weeks

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