Foresight. Budgeting & Consolidation: A Deep Dive into the Major New Release#
Foresight, a prominent Russian software developer, has announced a significant evolution of its flagship financial planning solution, “Foresight. Budgeting and Consolidation.” This major update aims to incorporate leading global Enterprise Performance Management (EPM) best practices, promising enhanced capabilities and a more robust user experience. Key facts and implications from this release include:
- The product, formerly known as “Foresight. Budgeting,” has undergone a substantial update, leading to a new name: “Foresight. Budgeting and Consolidation,” reflecting a significantly expanded feature set.
- The update introduces a comprehensive suite of new functional capabilities and technological tools, designed to streamline budgeting and consolidation processes.
- Foresight plans to provide detailed guidance on migrating to the new version, alongside insights into the core approaches and technologies driving this development.
- “Foresight. Budgeting” boasts a successful history, launched in 2018 and included in the Russian Software Registry in 2019, with notable implementations at major enterprises like Rosatom, RusHydro, VK, Gazprom Neft, Ikon Tyres, and Lime-Zaim.
- The product is built upon “Foresight. Analytical Platform,” which serves as the foundational enterprise-level platform. This platform itself is a full-fledged solution, certified by FSTEC (Russian Federal Service for Technical and Export Control) for its high level of security and trustworthiness (Level 4).
- This platform-centric development model ensures that industry-specific products like “Foresight. Budgeting and Consolidation” inherit robust core functionality and security, with approximately 80% of the previous budgeting functionality derived directly from the platform.
- The synergistic approach benefits both the specialized products and the underlying platform, fostering continuous joint development of functional capabilities and platform tools. This strategic update arrives at a time when enterprises globally are seeking more agile, intelligent, and secure financial planning tools. The integration of international EPM best practices into “Foresight. Budgeting and Consolidation” positions it as a competitive solution, especially within markets prioritizing localized and government-certified software. The long-standing success and high-profile implementations of the previous version underscore the foundational strength of the Foresight ecosystem, particularly its “Analytical Platform.” This move reflects a commitment to continually evolving to meet complex business demands for accurate budgeting, forecasting, and consolidation, crucial for strategic decision-making in large organizations. The release of “Foresight. Budgeting and Consolidation” signals a clear intent to deepen its market presence and provide advanced financial management tools. By leveraging its powerful analytical platform and continually incorporating industry best practices, Foresight is poised to further enhance its value proposition, attracting new clients and reinforcing loyalty among existing ones. This iterative development, driven by a synergistic relationship between platform and product, suggests a promising future for Foresight’s offerings, potentially setting new benchmarks for enterprise performance management solutions within its operational sphere.