This is part 4 of 12 in a blog series on understanding the risks of your current planning, budgeting and forecasting process. For the next few weeks, we’ll be posting a new article every Wednesday on budgeting best practices that will look at the challenges of the budgeting process and how to solve them. Catch up on last week’s post, Budgets and Time Don’t Mix.

Frustrated by the business budgeting process?

When it’s time to complete planning, budgeting and forecasting activities, do you notice employees turning around and hiding in their offices?  Many workers are frustrated by:

• The time that the budgeting and planning process takes away from their normal tasks
•  How complicated and confusing the process seems to be each time they are asked to participate

Maybe it’s time to reevaluate the process and give your templates an update.

Many business management teams utter a collective sigh when the announcement is made that budgets and forecasts are needed for the upcoming year.  Team members may also roll their eyes and spend a little more time tucked away in their offices.  Although preparing budgets and forecasting plans for upcoming months is important, the planning process itself can be time-consuming and confusing, which makes it wearisome for the people involved.

A budgeting solution can remove confusion around the process

Give your planning, budgeting and forecasting process an update.  Download 21 Ways Your Budgeting Process Puts Your Business at Risk to see how you can get your budgeting done easier and with greater productivity.  A centralized budgeting solution can remove much of the busy work and confusion from the budgeting process.  You can link an Excel budgeting solution to your business management sources and draw on accurate, real-time data, without the need to look up figures or reference old budgets.  Not only do you save valuable time, you can be confident that you are working with reliable data.
Today’s better budgeting solutions also offer input templates that simplify the data entry process.  Managers and their teams can enter data without having to create formulas or link data from one cell or spreadsheet to another.  With a streamlined, easier data entry process, they can take their time and not feel rushed to enter their information.  Consequently removing the confusion and the pressure to complete budgets on time can give managers time to give careful consideration to the data they are using or reviewing.

You can get budgets completed with efficiency and accuracy without distracting your team from other important business tasks.  Download the eBook created by True Sky, 21 Ways Your Budgeting Process Puts Your Business at Risk, and contact us to learn how you can improve the budgeting process so you and your colleagues don’t become your own worst enemies.