This article will help you to make a decision on which process will be best for your organization.
Pros
Central
- Pros:
- One of the most simple approaches because you are working with just one budget.
- This budge helps prevent the issue of selecting the wrong budget.
- Time-efficient, as only one budget needs to be created, accessed and assigned.
- Maintenance long term is much more manageable.
- Tracking in reporting is easier.
Allowable Access (All/Limited)
"All": Easy maintenance - don't have to maintain which budgets can or can't be used
"Limited": Flexibility- ability to control exactly which budgets can be used in the program
"Limited": Flexibility- ability to control exactly which budgets can be used in the program
- Pros:
- Gives you a lot of flexibility when it comes to budgets.
- You can have one program that is monetary for some and non-monetary for others.
- Allows you to have multiple budgets used in a program so you can limit which budgets people have access to.
- Useful when budgets are being broken down on an individual or group level.
- Easy to control limits on how much people can award because the budget is the limit instead of having to set up separate limits or create extra programs.
Cons
The cons of the central budget are really the pros of the allowable and vice versa. Simply put, if you want budgets to be intuitive, probably use central; however, if you require a more complex budgeting system, probably allowable access.
If you have any questions, please contact our Awardco Support Team.