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Category: Budgeting
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Lucid, provider of the market-leading BuildingOS platform for building management, has launched a new version of BuildingOS Budgeting, an application within the BuildingOS Finance and Planning Package. BuildingOS Budgeting empowers organizations to transform how they create, track performance against, and report on electricity, gas, water, and other utility budgets for their building portfolio, delivering time savings, visibility, transparency and traceability.

Budget creation, tracking and reporting can be prohibitively time consuming and inaccurate. It can take hours to days per building to create a fiscal year budget for a single building, a process that if done manually can include consolidating bills from the previous year to use as a starting point and then adjusting for expected rate changes, conservation and efficiency projects, occupancy changes, and other factors. Moreover, its often difficult to trace decisions to understand how a colleague or consultant built and updated the budget. Finally, creating role-specific, intuitive budgeting reports and visualizations can be cumbersome and can take a great deal of time, hindering prompt decision-making.

BuildingOS Budgeting gets budgeting out of spreadsheets and brings it into the 21st century. The app breaks down data silos and gives more stakeholders access to shared data, dramatically improving the speed and accuracy of budget creation, and fostering collaboration across disciplines to impact bottom line performance. Now professionals from operations to energy and finance have visibility into budgeting components so they can collaborate more effectively to achieve their goals.

BuildingOS Budgeting delivers the following benefits:

Using the BuildingOS Budgeting app to create monthly or quarterly reports of our burn rate against our projections and our budget is a useful way to monitor the energy spend, said Martha Larsen, manager of campus energy and sustainability at Carleton College. It gets everyone out of spreadsheets, which is a good thing!