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By: Pascal PERRY

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Budget and Cost Control Functions & Features

Major modules include Calculates employee cost by headcount and status (such as full-time, temporary, part-time, etc.);Compares budgets against actual costs;Available “what-if” scenarios to ensure that employees' increases do not exceed the department salary budget;Managers can view summary data and analyze salary budget information for their departments;Salary increases can be applied “across the board” for a department;Budget can be set using FTE or Headcount for different employee types;.. Budget and Cost Control Functions & Features are an important module of the comprehensive HCM RFP Template.

The HCM RFP template with Budget and Cost Control Functions & Features for HCM is a Microsoft Excel spreadsheet (.xlsx) featuring a total of 1430 decision criteria. The HCM RFP template allows you to quickly and easily prepare the business, functional, and technical requirements sections of the solicitation package you'll send to HCM software vendors. It ensures for:

  • complete response from each HCM software vendor
  • deep and accurate evaluation of submitted HCM proposals
  • impartial side-by-side comparison of HCM solutions evaluated
  • rational and documented selection of the best matching HCM system

The HCM software comparison report can save you up to 90% of the time you would have otherwise spent comparing all the HCM solutions from scratch.

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The Budget and Cost Control Functions & Features comprise the following elements:

  • Calculates employee cost by headcount and status (such as full-time, temporary, part-time, etc.)

    Calculates employee cost by headcount and status (such as full-time, temporary, part-time, etc.), Budget and Cost Control Functions & Features

  • Compares budgets against actual costs

    Compares budgets against actual costs, Budget and Cost Control Functions & Features

  • Available “what-if” scenarios to ensure that employees' increases do not exceed the department salary budget

    Available “what-if” scenarios to ensure that employees' increases do not exceed the department salary budget, Budget and Cost Control Functions & Features

  • Managers can view summary data and analyze salary budget information for their departments

    Managers can view summary data and analyze salary budget information for their departments, Budget and Cost Control Functions & Features

  • Salary increases can be applied “across the board” for a department

    Salary increases can be applied “across the board” for a department, Budget and Cost Control Functions & Features

  • Budget can be set using FTE or Headcount for different employee types

    Full-time equivalent (FTE) is a unit that indicates the workload of an employed person (or student) in a way that makes workloads comparable across various contexts. FTE is often used to measure a worker's involvement in a project. An FTE of 1.0 means that the person is equivalent to a full-time worker, while an FTE of 0.5 signals that the worker is only half-time. Budget can be set using FTE or Headcount for different employee types, Budget and Cost Control Functions & Features

TEC Advisor can save you up to 90% of the time you would have otherwise spent figuring out on your own which HCM solution is the best for your needs.

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Functions and Features