Budgeting & Forecasting Services that That Helps Guide Your Business Towards Better Business's Finance Health

While financial planning is crucial for business, what makes financial planning successful is budgeting and forecasting. Budgeting allows you to understand whether you will have enough finance to continue with your operations smoothly for a particular period. And forecasting helps determine the financial status of the business and future financial projections using historical data. Budgeting for your business helps prepare a business's financial plan to manage monthly, quarterly and annual cash inflows and outflows. While forecasting for your business helps identify trends that can be used to compare its financial position with its historical data, competitors, and other companies in the same industry.

Whiz Consulting has been providing accounting and bookkeeping services to businesses based in USA for a decade now. As per the business requirement, businesses outsource budgeting services or outsource forecasting services instead of the overall accounting process. This is done to help prepare for any possible opportunities and contingencies. We provide our budgeting and forecasting services in Texas, New York, Minnesota and other parts of the US irrespective of business size. Many small businesses neglect budgeting and forecasting tasks, but they are crucial for small businesses and larger organizations alike. For the same reason, we at Whiz Consulting provide customized budgeting and forecasting services for each business as per their requirement.

Why do you need Budgeting & Forecasting?

No matter what industry your business belongs to or the size of operation of your business, you will always have to prepare a budget and forecast plan, even if it is not mandatory.
Let us understand why is it so important -

It helps to set a standard for assessing performance, and then businesses can make a financial decision based on these standards.
It helps to organize and allocate financial resources to different departments efficiently and helps track each department's performance.
It helps businesses compare actual results with that of the estimated one, which helps understand the difference.
It helps business predict or take into account that unexpected issues might erupt and allow to take quick corrective measure when it happens.
These act as a financial communication tool used to express estimated financial results.
It allows the business to promptly respond to the competitors and other companies in the same industry.

Budgeting and Forecasting Services Provided by Whiz Consulting

Partner with us for the outsourcing of your business' budgeting and forecasting services today and be assured of an accurate picture of your business in terms of performance, with help you do by preparing the following -

Operating Budgets

Quarterly, half-yearly or annually for the company and its departments, annual costs of the different projects are also included in the operating budget

Project Budgets

Budget for the entire life of a project alongside controlling and reporting individual costs for a project

Capital Budgets

Capital budget helps identify, assess, and plan for a company's capital needs, to meet its goals and objectives.

Cash Flow Forecasting

Cash flow forecasting helps in identifying budget variances and thus should be prepared along with the budget.

Why Choose Whiz Consulting for Your Budgeting and Forecasting Services

If you are in search of budgeting and forecasting services in the US, our team of experts at Whiz Consulting is the right choice for you as it has the following advantages -

Cost Reduction in comparison with other alternatives

Decade long experience

Team of highly qualified experts

Use of advanced budgeting & forecasting software

Providing a strategic business planning process

Customized service to industry specific needs

Frequently Asked Questions (FAQs)

1. What is a budgeting process?

Budgeting is a process carried out in order to plan for all financial transactions. It helps ascertain or consider any upcoming contingencies, thus allowing the business to plan funds ahead of time. Budgeting provides businesses with a yardstick that help in comparison of what was estimated with that of actual income & expenses.

2. Why is budgeting important?

Budgeting holds great value for business owners as it helps them to allocate their resources optimally. Budgeting acts as a yardstick for business financial performance but also help businesses to keep check of their funds, ensuring healthy cash flow. Budgeting is especially important for businesses that work on multiple projects. Working on multiple projects requires fund segregation to ensure that there will be no fund deficiency in a project that might affect another project.

3. What is forecasting in business?

Forecasting is the process of ascertaining the future financial outcome of your business. This is made possible with the help of historical data. A detailed analysis of historical data and current market conditions allows businesses to ascertain possible future outcomes.

Budgeting and Forecasting Services

Enabling to Achieve Business Financial Goals