Marcel Duy, Product Director, Digital Business Planning at IKEA
Do you know how much of your marketing budget is spoken for at any given time? Hive9 brings together budgets, planned costs and actual spending in one place so that you can always know where you stand. We connect marketing plans automatically to budgets and actual expenses to ensure no surprises with CFOs and provide better knowledge of spending by vendor, region, product, target audience and much more.
Marketing doesn’t plan from the same point of view as finance. Marketers need to be able to plan according to their go-to-market strategy while drawing funds from their financial budgets.
With Hive9’s marketing spend tracker, marketing planners can enter top-down campaign budgets that reflect their priorities while entering bottoms-up planned costs that draw from the relevant finance budget.
Finance can see the world from their cost center and GL code lens and see where marketing is using those funds across their plans, while marketers can see the world from their go-to-market lens with a view of how the budget is getting consumed.
Marketers can plan according to their go-to-market strategy while still aligning to finance. Finance and marketing each need their own point of view, with the comfort of knowing they’re looking at the same data.
Hive9 marketing financial management enables you to import your “n”-level finance budgets and connect them to your marketing plans. Actuals get mapped directly to the finance budget and the marketing plan at the same time.
Hive9 has support for actual financial integration with back-office systems. We’ll work with you to import your budget and configure the integration to bring in actual expenses.
Create purchase requests and purchase request lines directly from budget-approved line items inside Hive9 plans. Hive9 supports PRs generated across multiple plans, campaigns, programs and tactics so that needs can be consolidated.
With Hive9, PwC’s marketers integrate plans with purchasing and financial systems, creating a closed-loop actuals reporting environment that can be reconciled to finance while still being compared to marketing plans.
Establishing marketing as “more in the loop,” explains Eklund, enables PwC to clearly show marketing ROI.
“This is one of the key benefits of having a structured planning process and a tool like Hive9,” he says, “because then you can see the whole marketing program and the total cost overview … Having that data available in the same tool is really powerful.”