The core of the PB&F process is a financial-modeling engine that has an integrated profit-and loss, balance sheet and cash flow forecasting capability.

CPM applications support the creation of financially focused budgets and plans, and should support the complete budget creation and approval process with appropriate workflow that enables users to define and control the flow of budgets, plans and forecasts for review and approval. These applications should also keep an audit trail of changes to budgets, plans and forecasts.

PB&F applications should also support:

• Setting financial targets for revenue, expenditures and cash generation, and use financial classifications found in the general ledger (GL).
• Executives to evaluate the effects of alternative strategies and represents a high-level perspective of revenue, expenses, balance sheet items and cash flows.
• Other aspects of strategic planning, such as initiative management, and provide links to strategy maps in scorecard applications.
• Provide other detailed planning, such as salary or head count planning, revenue planning, capital planning or expense planning.