Organizations using PeopleSoft Commitment Control to manage expenditures against authorized budgets now have two new Insights Dashboards. The new dashboards, “Commitment Control Insights and Commitment Control Exceptions,” will help budget managers and finance leads monitor spend against pre-authorized budgets and resolve exceptions that need attention.
The Commitment Control Insights (Figure 1), released in update 48, allows users visibility into budgets for specified business units, ledger groups and budget periods along with other chart field combinations. If you are managing budgets for a department or an agency, you can view total budget, associated revenue, expenses to date, encumbrance to date, pre-encumbrance, and available budget very easily.
Figure1. Finance leads can specify business units, ledger group, budget periods, department, and funds as filter criteria to quickly view budgetary spend.
As a budget manager, you have access to several visualizations including budget entry types, top spend departments, and top expenses. All these visualizations are using the Activity Log data. You can drill into any of these visualizations and onto transactions to view details. If a department is close to the allocated budget, you can proactively monitor transactions and take necessary actions. Also, these analytics are RTI enabled which means they are refreshed in real time as transactions are budget-checked and posted.
Commitment Control Exceptions (Figure 2), released in Update 49, complements the overview insights by providing a comprehensive view of budget check exceptions and warnings. As a finance lead, you get a full picture of all insights and warnings across all source transactions. You can drill into those transactions and take necessary actions to resolve the exceptions.
Figure 2. Finance leads can view all exceptions generated during the budget check process using the Commitment Control Exceptions Dashboard
Commitment Control Exceptions Dashboard uses the exceptions log table and can also be enabled for RTI. With these Insights, finance leads can view trends and summarization of key commitment control data, and quickly find departments, business units that are exceeding or close to exceeding budgets.
For more information, you can review the PeopleSoft Commitment Control Insights Video Feature overview.