Challenge: Continuous budget monitoring, current consumption and upcoming planned expenditures tracking
Budget management creates the most challenges, especially with regards to maintenance of a holistic budget overview from different perspectives, e.g., per single engagement, stream or program, or for a certain vendor. Efficient tracking of actual consumption requires sustained efforts, like timesheet management, review of ticket dumps, and coordination with subject matter experts (SMEs) retrieving the services. Even if all this data is available, it still needs to be collected and processed in the correct way.
