Because knowledge is power
A budget is a financial expression of the business plan and as such one of the most effective methods for managing the finances of business activity is budgetary control.
Taking steps to control an annual budget effectively is a way of developing a strategic plan for the activity in the same period.
Having set the plan, or budget, it is important to determine where it is achieved and where it is not, detecting possible variances, with the aim of achieving the balance that serves to achieve the proposed goals in both operational and financial terms. Tools such as variance analysis which highlights where your income and expenditure fluctuates from your financial plans, and trends analysis, which allows you to predict what’s going to happen, based on what’s already happened, are key to understanding whether you are on target with your financial plans.
Our experience shows that many organisations don’t have systems that effectively link operational activity or data to financial reporting as they are usually operating on different systems. That means that although you may have information from different systems which in itself might be useful, the power is with linking the activity data to your financial information which then allows a much deeper understanding of both the business activity and the consequential impact on the financial resources. We work with you to design and create the best reports from all the systems you use enabling you to fully understand and analyse your financial and operational situation at a glance.
We have developed and implemented effective budget monitoring systems in all business categories and size, improving not just the financial control but ultimately using the knowledge to enhance the business and their decision-making processes.
