Budgeting & Forecasting
Typically any budgeting & forecasting being undertaken in an organisation is done on spreadsheets. Whilst at first it seems an easy-to-implement approach, spreadsheets become difficult to maintain, are prone to errors (that can inflict damage onto a business) and do not lend themselves to in-year reporting and forecasting of out-turns.
Modern Budgeting & Forecasting tools are now within the grasp of all organisations and BDI can help you identify and implement the appropriate one for your organisation.
We will get to know your business so we can create easy-to-understand models of the various parts of your organisation. This will include dependencies and assumptions so you will not only be able to budget and forecast but also do what-ifs to inform you about the impact of potential changes to your business or organisation.
Engaging Budget Owners
It’s critical that we engage budget owners at an early stage as they will be expected to submit returns and estimate future performance and needs. Whereas budgeting & forecasting is typically done from the centre, using modern tools allows this to be a co-operative and informative exercise reaching out to the different parts of your business.
Picking the Right Tool
There are a plethora of budgeting & forecasting tools in the market and we will work with you to pick the tool that offers best value for your organisation whilst ensuring it meets your needs.
We can help select and procure this tool at the best possible price without compromising service.
Implement, Train, Go Live & Review
Our experts will help you build the model and train budget holders and other users prior to rolling out the tool , monitoring its performance and usefulness against your business objectives.
Following a couple of budgeting and forecasting cycles we will review the effectiveness of the solution and make recommendations for any improvements required.
The deliverables from this work will be a fully working business model (or models), software selected and implemented and end users trained in its use. Like all BDI services we will be focussing on business value and return on investment.