Engagement budgeting is a critical task in managing firm profitability. This system automates the development and approval of engagement budgets. The system fully integrates with firms’ systems including financial reporting, human resource, and staff scheduling systems.

Cleveland, OH-- Staff Trak announces the launch of its Engagement Budgeting. The system was developed in conjunction with a top firm to meet the specific requirements of professional service firms worldwide.

The Engagement Budgeting system is designed to maximize realization. Budgets can be developed using prior year’s results or standard templates. This Engagement Budgeting system completely automates the review and approval process. The system can be used in many practice areas, for CPA firms these would include Assurance, Tax, Consulting, and Technology.

Key features include:

• Standardizes engagement budget development- For each practice unit or department budget development practices can be standardized and automated.
• Saves time preparing engagement budgets- Immediate access to prior year’s results and standardized templates decreases the time required to develop budgets. Key metrics such as realization rates and hours expended are automatically calculated and compared to prior years or standard templates. These can be reviewed prior to submitting the budget for approval.
• Streamlines the budget approval process- The approval process is automated, with tracking in place.

Budget Creation
The system:

• Integrates seamlessly existing financial reporting, human resources, scheduling, business intelligence, and other systems.
• Allows the preparer to use prior year results or standardized templates for budget development.
• Stores results for comparison next year.

Budget Development Process
Budgets development:

• Can be done at a high level or with increasing levels of specificity including breakdowns by department, level, individual staff member, and/or task.
• Includes instant calculation of profitability metrics.
• Utilizes alerts and audit features to streamline the budget preparation and review process.

Other Features

• Engagement Budgets can automatically populate Staff Trak’s scheduling system.
• Reporting can be developed to each firms specifications.
• The system is intuitive and user friendly with numerous features including a user notes capability.

Compelling ROI

A top CPA firm and Staff Trak joined forces to automate this critical process. The system is available on a subscription basis.

To request a demonstration of the new Staff Trak Engagement Budgeting, visit www.stafftrak.com or call 877.880.8496.