Budgeting and forecasting are essential components of any successful small business or organisation. Budgeting and forecasting ensure that your business will have enough finances, whether they come from cash inflows or outflows. With accurate budgeting, you can plan all your expenses and anticipate potential cash flow problems. A budget also helps a company build a better financial plan to predict how much revenue they will generate as well as other expenses forecasted for the following year. Understanding budgeting and forecasting will allow you to achieve your short and long-term financial goals.
While budgeting is essential, it is different from forecasting. Forecasting prepares future financial projections with the use of historical data. Forecasting can help you develop goals and objectives for your company and establish parameters for decision-making. Forecasting enables you to estimate the expected future financial health of the business based on past data, competitors, and other companies in the industry. The end goal is to help identify trends needed to create strategies to meet your goals. We at Whiz Consulting provide budgeting and forecasting services to help businesses boost their performance.
Whiz Consulting Services provides these services, so our clients can see measurable gains quickly. We help clients with budgeting and forecasting to prepare a strategic plan for their business goals. For years now, we have assisted businesses with this service with the help of different budgeting and forecasting software like QuickBooks budgeting and forecasting. We even use specific budgeting and forecasting software for small businesses targeted towards small businesses. Whether it is industry-specific services like restaurant budgeting and forecasting or business size-specific services, we can customise it all for you. We provide accurate estimates of the future performance of your company. Outsourcing budgeting and forecasting services save time, which can be spent more productively on business issues.
Budgeting and forecasting are essential for any company regardless of size. Budgeting and forecasting help businesses prepare for upcoming expenses. Irrespective of the size of the operation of the business, one must note that they will always end up preparing a budget and forecast plan for a year or so. Budgeting and forecasting helps to -
Quarterly, half-yearly or annually for the company and its departments, annual costs of the different projects are also included in the operating budget
Develop a budget and forecast for the project’s entire life, which help with cost control and reporting, implementing better management into your project.
Capital budget to help identify, assess, and plan for a company’s capital needs, to meet its goals and objectives.
Cash Flow Forecasting helps identify budget variances and thus should be prepared along with the budget.
Outsource your business’ 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.
Outsourcing your budgeting and forecasting services to Whiz Consulting will result in significant time and money benefits. Outsourcing budgeting and forecasting process to us will benefit you in the following manner -