CARY, N.C., Sept. 12, 2012 /PRNewswire/ -- The Kansas Department of Transportation (KDOT) completed their annual budget on time for the second year in a row with Vanguard Software's Forecast Server. Forecast Server provides the cash flow forecasts that determine the agency's annual budget.
"When every dollar really counts, our new forecasting process has made us so much more effective as an agency," said Marcia Ferrill, KDOT's Assistant Director of Planning and Development.
Forecast Server gives KDOT a live view of their current and future cash flow. Agency managers can detect and quickly respond to daily, monthly, and annual cash flow shifts. Construction costs, bond values, revenue sources, and other expenditures are forecast based on complex models that account for delays, anticipated changes, and seasonality among other factors.
"KDOT is a national leader in transportation management and an extraordinary steward of public funds. We are proud to be a key component in their financial management," said Robert Suggs, CEO of Vanguard Software.
The new annual budget produced by Forecast Server will now go to the Kansas Legislature for approval.
Vanguard Software produces forecasting software. Vanguard introduced its first product for decision support analysis in 1995. Today, over 2,000 companies in 60 countries use Vanguard's products, including 33 of the Fortune 100.
Contact: Hao Nguyen
SOURCE Vanguard Software