Budgeting and business analytics solution Roibot Finance helps companies quickly adapt to changes in the economic environment
Roibot Finance is a budgeting and financial analytics tool designed for medium-sized and large companies to support efficient business planning. With Roibot, rolling budgeting becomes part of the company’s everyday workflow, enabling quick adjustments to the budget in response to market changes. Developed by Intelex Insight, a subsidiary of Trinidad Wiseman, the solution is already used by more than 20 companies.
At Trinidad Wiseman, we offer both ready-made business analytics solutions for monitoring financial, sales, and web usability data, as well as tailored data science and analytics services. Explore our business analytics and machine learning services, review our past projects, and get in touch to find the right solution for your needs.
Rolling budgeting – essential in both economic downturns and growth periods
In recent years, the economic landscape has changed rapidly due to various factors, from the pandemic to tax reforms. In a volatile environment, financial forecasts made the year before can quickly become outdated.
To remain competitive, annual budgeting is no longer enough – budgets need to be updated repeatedly throughout the year to enable efficient planning.
Ideally, budgeting is a daily tool that provides an overview of company performance and future projections. Rolling budgeting enables adaptation during economic downturns, when cost control is key, and during periods of growth, when keeping up with increased demand is critical.
Could artificial intelligence help companies in this task? While promising, AI models that can rival human-created, data-driven budgets are not yet cost-effective. For the foreseeable future, budgeting will remain the primary planning tool in most organisations.
However, with the right tools, budgeting and reforecasting don’t need to be complex or time-consuming tasks involving massive pivot tables and back-and-forth approvals. According to our clients, adapting monthly budgets to the current market situation with Roibot takes approximately 10 minutes.
How does Roibot Finance work?
Roibot Finance is developed by Intelex Insight, taking into account the needs of companies in our region. It is a cost-effective financial planning and business analytics solution for companies looking to move away from time-consuming Excel workflows and towards automation, without the complexity of global enterprise-level tools.
Roibot consolidates data from various sources and creates automatically updating reports. The solution allows continuous tracking of company revenues and expenses compared to budgets or previous year figures, along with key performance indicators (KPIs).
Roibot streamlines the budgeting process and enables multiple updates throughout the year, generating new forecasts that can be compared to the base budget.
Updating the budget takes just moments – when a higher-level value in the budget hierarchy is changed, the system automatically recalculates the related budget lines. For example, if a company’s revenue is expected to decrease by 10% due to new import tariffs, Roibot can instantly calculate the necessary cost reductions to stay on budget and share that insight with the team.
A recent upgrade allows users to enter and edit data directly in Microsoft Power BI, the world’s leading reporting and data visualisation tool. This greatly enhances user experience and eliminates the need to switch between different platforms.
Benefits of Roibot for your company
An effective tool for rolling budgeting – Roibot enables easy budget creation and frequent updates throughout the year. Changing one value in the budget form automatically adjusts all other lines, giving instant insight into the impact of changes.
Rapid adaptation to economic changes – The ability to update the budget quickly is critical both in downturns, when expenses must be tightly managed, and in upturns, to fully seize growth opportunities.
Supports business growth – Roibot is invaluable for fast-growing companies, enabling scenario planning in minutes. For example, you can explore how revenue growth will affect costs and profitability or identify new operational constraints.
Universal integration with financial software – Roibot integrates with all known financial software and can be rapidly connected to new systems, unlike some budgeting tools that are limited to specific accounting platforms.
Enhanced user experience – All reporting, and now also data input and editing, takes place directly in Microsoft Power BI, making the solution extremely user-friendly for end users.
Smoother internal collaboration – Roibot allows the finance team to involve other departments in budgeting and share ownership across the organisation. Department leads can monitor whether their spending is on track and adjust based on updated forecasts.
High-quality, transparent data – All changes are logged in the database. End users cannot modify the data forms themselves, ensuring consistency, but they can add comments to explain why a particular line was changed.
Quick deployment – One of Roibot’s key strengths is its fast implementation compared to custom-built solutions. Once access to required data is granted, the solution can be deployed within one month, after which it can be introduced into daily operations.
In summary
Roibot Finance is a flexible and cost-efficient business analytics solution for medium and large companies, significantly simplifying the budgeting process. It is a comprehensive planning tool that helps organisations plan operations and respond effectively to changing market conditions.
Already used by more than 20 Estonian companies, Roibot Finance can help you prepare and update next year’s budget faster and more conveniently than ever before. Get in touch with us to explore how Roibot could benefit your business.
Read our client story on how Roibot helped Flexa Estonia optimise their operations during a challenging economic period.
