Budgeting, Forecasting and Planning
The corporate budgeting, forecasting, and reporting process presents a formidable challenge to most companies, regardless of size or industry. Budgeting is often seen as burdensome and time consuming. Yet budgeting is also a crucial element of financial management, which in turn is a huge contributor to a company’s overall success or failure. As a result, companies that are able to address budgeting obstacles and improve their process will not only be rewarded with more accurate budgets, more timely re- forecasts, and improved decision-making, but will also foster a disciplined financial management culture that will deliver a true competitive advantage.