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Why Switch from Excel to Hollywood Budgets: Revolutionising Your Budget Management

Hollywood Budgets Interface on iPad

Excel has long been a popular tool for budget management, but as production professionals in the TV and movie industry, it’s time to consider a switch. Hollywood Budgets offers a comprehensive solution that addresses the limitations of Excel and revolutionizes your budget management process. In this blog, we will explore the key reasons why it’s time to make the switch. 

 

More Accurate Budgets 

One of the biggest drawbacks of Excel is its susceptibility to errors. Total column formulas can easily be overwritten with values, leading to incorrect budget amounts. When inserting rows, total row sum formulas for accounts can go out of balance, throwing your budget calculations off track. With Hollywood Budgets, you can ensure accurate budgets, as formulas and calculations remain intact even when inserting or editing rows. 

Effortless Reporting 

Excel may provide basic reporting capabilities, but it lacks sophistication when it comes to generating industry-standard budget reports. Hollywood Budgets, on the other hand, empowers you to create comprehensive and professional reports tailored to the unique requirements of the TV and movie industry. Say goodbye to amateur looking reports and hello to impressive reports that showcase your budget in an easy and understandable way. 

Advanced Budget Customisation 

The limitations when using Excel become apparent when it comes to complex budgeting needs. Hollywood Budgets offers a range of powerful features to meet your specific requirements. From using complex “Globals” to quickly update budgets, to utilising groups for rebates and suppressing rows, Hollywood Budgets provides the flexibility and customization options you need to streamline your budget management process. 

Streamlined Fringe Calculation 

Fringe calculations can be challenging in Excel, especially when dealing with ranged and capped fringes. Hollywood Budgets simplifies this process by offering sophisticated and powerful fringe calculation capabilities. You can easily assign and calculate fringes per line and have them total by Production, Category, or Account, ensuring accurate and detailed budgeting for your production. 

Enhanced Financial Analysis 

Conducting in-depth financial analysis in Excel can prove to be quite challenging at times. With Hollywood Budgets, you can integrate Cost to Date data into your budget, allowing for robust financial analysis and tracking of actual costs against the budget. Additionally, you can generate location-specific totals, analyse variances across different levels, and even export budgets filtered by currencies, locations, or groups for enhanced insights. 

Improved Security and Navigation 

Excel lacks multi-factor security, making it vulnerable to unauthorized access. Hollywood Budgets offers advanced security features, ensuring that only authorized personnel can access and modify budgets. Additionally, the software’s tiered navigation structure allows for easier organisation and analysis, with tiered levels 1, 2, and 3 offering seamless navigation and a clear overview of your budget. 

 

Excel may have served as a budgeting tool for some time because its cheap, but as a production professional in the TV and movie industry, it’s time to embrace Hollywood Budgets and avoid rookie errors. With its advanced features, accurate calculations, effortless reporting, and customisable budgeting capabilities, Hollywood Budgets streamlines your budget management process and enables you to shine. Make the switch today and unlock the full potential of your budgeting process. 

If you need further assistance to do this, please don’t hesitate to reach out to your account manager at TPH Global, or our support department at: support@helpdesk.tphglobal.com.