reconsider
the budget process
For some companies the budget process is onerous, time-consuming and, not least, based on gut feelings. Even before the budget has been drawn up it must be revised, and once it has been completed it represents the best educated guess about the year ahead, but things don’t have to be like that.
At Inspari we help our customers rethink the budget process in order to better define the future. This happens, for example, by using modern tools for reporting, budgeting and forecasting. We call it intelligent budgeting, and you can read more about it here.
financial dashboards
make the budget into an active management tool
With intelligent budgeting we involve historical figures and drivers for budgeting, planning and forecasting, so as to create the best basis for describing the future. This means goodbye to a budgetary process based on gut feelings and hello to asset management based on facts. Intelligent budgeting automates the budget process, and instead of resource-intensive exercises the budget becomes a strategic tool that starts where the ERP system, replete with historical data, ends. With intelligent budgeting we thus look to both the past and the future for the optimum overview.
And you'll need a modern platform for data-driven reporting, budgeting and forecasting – a platform that can do more than Excel can offer you. Excel will of course remain part of your everyday life, but you will need a solution created for collaboration and transparency within your organisation.
five good reasons
for rethinking
the budget process
Companies often change the budget process one step at a time. They have thus started getting the budget moving, and have therefore been able to look 3 months into the future. Subsequently, when the organisation was ready, 9 extra months were added, so it is always possible to look 12 months into the future. Regardless of the time of year.
If you think the traditional budget process is a sound tool within your business, then ask yourself whether the following statements could have come from your finance department.
- “We are challenged by the many spreadsheets, each with its own degree of truth, that flourish within our company”
- “We often find formula errors that have been passed on through several versions. It takes time to fix them”
- “Thomas, our formula expert, is unfortunately off sick, and the budget is thus delayed”
- “We spend a lot of (too much) time on consolidation”
- “We can’t see the results of the changes in the budget as quickly as we would like”
talk to us about
intelligent budgeting
Our consultants work with companies who have the ambition of rethinking the budget process and thus making better decisions on a data-driven basis. We can thus:
- Advise your company about a better budget process
- Help identify the right drivers within the enterprise
- Support the intelligent budget process with an intelligent tool
- Provide support when you need assistance
