Rolling forecasts have risen greatly in popularity, and for good reason. Today’s businesses are dealing with a different world — it is fast-paced, interconnected, and more competitive than ever. This can pose a challenge for any CFO. Finance teams must process huge amounts of data and forecast (or often reforecast)…

When you decide to invest in a budgeting tool for your business, you want to make sure that you are getting the best tool for your organization. There can be so many variables to consider when picking a budgeting tool that it can be overwhelming. That is why we put…

Sales forecasting can be one of the most complicated business practices to master, but its rewards are invaluable. Good sales forecasting allows you to make better informed decisions on future resource allocation, identify potential prospects or challenges, avoid unexpected cash flow problems, and much more. But the benefit of sales…

A balanced budget can mean several things. It can have the traditional meaning of balancing your expenses and income so that you do not run a deficit. But it can also mean balancing your time and business resources during the budgeting process. Your budget tells a story about your business…

Strong business management involves a good budgeting and forecasting process. But who is ultimately responsible for that budget? Depending on the size of your organization, you may have a dedicated budget manager or finance team. You may have an accounting department. Your operations manager might take on the bulk of…

Make Sure Your Strategic Planning and Budget are Aligned Every business needs a budget, right? But how do you know if your budget is right for your business? For most organizations, it is not enough to simply track all of its expenses and revenue. For your business budget (and your…

Your business intelligence strategy is a roadmap for your business’s success — and so is your corporate budget. Therefore, it makes good sense for the two to be connected. But further than that, your business intelligence strategy and budget shouldn’t exist as separate entities. They should co-exist and inform one…

Budgeting for business can seem a lot more complicated than creating a personal budget, but in reality they are not all that different. When budgeting for business, you are: Projecting your income for a certain time period (a month, a quarter, a year, etc.). Projecting your expenses for a certain…

It today’s digital age, when data is required in real-time, operating without an enterprise resource planning system (ERP) is almost unheard of. An ERP system enables you to achieve greater visibility, work more quickly, and respond more accurately to changes. However, while an ERP tracks your many business resources, from…

Create an annual budget and stick to it: this personal financial advice works for so many people. What organizations are coming to realize however, is that it isn’t as viable when you apply it to the workings of a corporation. For household accounts, sure, annual budgeting makes sense, but when…