Budgeting & Forecasting
Budgets alert management to significant expenditures and revenue shortfalls, while forecasts provide the critical details of sales projections.
Budgeting and forecasting are essential components of any successful small business or organization regardless of size.
We work closely with our clients to create annual budgets with the highest level of detail and supporting data. In addition, our forecasting tools allow for anticipated variances that keep the budgets in line.
With accurate budgeting, you can plan all your expenses and anticipate potential cash flow problems. A budget also helps a company build a better financial plan to predict how much revenue it will generate as well as other expenses forecasted for the following year.
We use Forecasting to prepare future financial projections with the use of historical data to help you develop goals and objectives for your company and establish parameters for decision-making.
Budgeting and forecasting help to:
- Act as a financial communication tool to describe estimated financial effects.
- Setting a standard of assessing performance and making financial decisions based on these standards.
- Organizing and allocating financial resources amongst different departments, the project forecast generates the best possible outcome.
- Predict any unexpected costs before they occur, allowing to take quick corrective measures.
- Comparison of actual result with what was expected and then analyzing the reason so that the difference is positive in the future.
- Prompt response to the competitors and other companies in the same industry.