Budget is defined as a financial plan for a period of time, usually a year which may also include planned sales volumes and revenues, costs and expenses, resource quantities, assets, liabilities and cash inflows, and outflows. Companies, governments, families and other organizations use it to express strategic plans for activities or events in measurable terms. But no matter how small or big a business is, it must have a budget and forecasting done for a period of at least 12 months and it must measure actual vs budgeted aspects and take corrective measures as well and look for areas which can increase the potential of the business. Budgets and forecasts can strengthen management’s control of operating cost and have a significant impact on the overall productivity and efficiency of the organization.
In order to respond quickly to the competition, it is critical that you monitor your progress towards goals, control spending and predict cash flow and profit as accurately as possible. Now, to make this possible for all sorts of business in all sorts of industries, we at whiz consulting are there to help you out. You can outsource your budgeting and forecasting services to us especially because we have combined experience of decades in budgeting and forecasting and can help prepare a budget as well as forecasting reports for your business, as close to reality as possible. You can outsource your budgeting and forecasting services to the experienced and qualified team at Whiz Consulting and you can be sure that we have included the latest industrial trends, your business capacity, past records and prepare a realistic record in line with your vision for the business.
Benefits of Budgeting
- Budgeting and Forecasting services Provides a Benchmark of Evaluating Performance against Financial Goals and Objectives
- Helps an Organization Allocate Financial Resources between various Operating Groups
- An effective Communication Tool used to express Financial Goals and Objectives of the Organization
- Align Spending to your Priorities with Accurate and Timely budget-to-actual and budget-to-forecast reporting, Enabling you to quickly respond to Variances
Our Budgeting and Forecasting Services
- Preparing Operating Budgets:- Prepared quarterly/half yearly/annually for the company and its departments, annual costs of the different projects are also included in the operating budget.
- Preparing Project Budgets:- Prepared for the entire life of a project, they are used to control and report Individual costs for a particular project
- Preparing Capital Budgets:- Prepared to help identify, assess and plan for a company’s capital needs, to meet their goals and objectives. Capital expenditures include furniture and equipment, capital software and more.
- Preparing Cash Flow Forecasting:- Helps in identifying budget variances and thus should be prepared along with the budget.
Outsource your budgeting and forecasting services to us today and be assured you will have an accurate picture of your business in terms of performance as well as a yardstick (in line with industry standards) to measure your performance against in coming years.