Provide structure, predict cash flows, allocate resources, model scenarios, measure performance
Financial Budgeting is all about driving the coming years’ enterprise’s strategies and initiatives. This encompasses the entire organisation and inputs from external associates as well. The internal budget and internal reporting is just one aspect, but true financial budgeting includes the entire organisational plan with external budgets and reports.
Ascention delivers the following financial budgeting benefits:
Collaboration: foster ongoing budget ownership with your stakeholders
Consistency: allow predictable processes and uniformity
Consolidation: roll-up hierarchies, reporting schemas or companies as needed for internal management reporting and external statutory reporting
Control: centralise ownership of the budget process and decentralise ownership of department, business unit data
Confidence: stakeholders trust the numbers being presented and developed
(click to enlarge)
Monitoring and Evaluating Budgeting Performance
The more easily organisation’s can monitor budget performance the more opportunity they have to take action.