Most event budgets are built once in a spreadsheet, then quietly go stale the moment the first supplier is booked. Novex treats the budget as a living document.
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A budget that stays live
You build the budget once from the event — with the line categories events actually use: AV Production, Stage Lighting, Transport, Hospitality, Print & Signage, Floral & Decor, Entertainment, Insurance, Marketing — and then it tracks committed, spent, and variance against every line for the rest of the run.
Build it once from the event, with the line categories events actually use: AV Production, Stage Lighting, Transport, Hospitality, Print & Signage, Floral & Decor, Entertainment, Insurance, Marketing. A budget can be Pending Approval, then Approved and Locked, so the number your team works to is controlled, not casually edited.
When you raise a purchase order against a supplier, that becomes committed spend; when the vendor's invoice arrives and is approved, it becomes spent. Vendor bills are captured as they come in, matched against POs, routed for approval, and staged for payment — so accounts payable and the event budget are the same picture, not two reconciled later.
That live view lets you know an event's profitability before the final invoices settle. Pair the cost side with the revenue side — the quotations and invoices Novex generates for the event — and you get a real P&L: what came in, what went out, and the margin, per event. Roll that across your whole calendar to see which kinds of events actually make money.
Because budgeting shares a platform with forecasting, the committed and planned costs also feed a portfolio cash-flow view: expected inflow from open invoices (excluding VAT), expected outflow from open POs and budgeted costs, and a net cash position — so finance sees the money movement across all events, not one at a time.
Yes — POs count as committed and approved vendor invoices as spent, so committed/spent/variance stay live.
Yes — pair the cost lines with the event's invoices for a real per-event P&L, and roll it across your calendar.
Yes — a budget moves through Pending Approval to Approved and Locked, so the working number is controlled.
Yes — committed and planned costs feed a portfolio view of expected inflow, outflow, and net cash position.
Start a free 14-day trial and build your first event budget in an afternoon — or book a demo to see committed-vs-spent and the live P&L in action.