Budgeting, forecasting and planning are three key components required to set a business up for success. While these processes seem similar, what they do is quite different. Together, they are vitally responsible for assisting Management to gauge where they are today, plan for where they want to be in the future and the steps that need to be taken to ensure the business gets there.
It’s important to think critically about your business model and the impact of what happens if something changes. That’s why having budgeting, forecasting and planning solutions in place is key for business success.
Our Planning Solutions
Financial planning is an essential part of any business. When FP&A is completed effectively, your business will be set up to accurately measure, track and deliver performance. Prima Consulting can help free up and empower your financial team with our budgeting, forecasting and planning solutions – allowing for your wider business to be held accountable and stay on track against your plans.
Prima Consulting works with the market leading software Visual Planner to manage your budgeting, forecasting and planning needs. It is the ultimate multi-purpose tool that will assist with reporting, data entry, FP&A, commentary and data visualisation. Bringing our cross-industry knowledge and expertise, we will work alongside you to help allow your finance team to implement and effectively use financial planning models to better understand what you are looking to achieve on a day-to-day basis as well as what metrics are required to monitored and managed.
The Importance of FP&A
Budgeting, forecasting and planning is important to your business’s success for multiple reasons, including:
- Set company targets and monitor progress to ensure the objectives are achieved
- Plan and predict cashflow
- Identify risks early
- Manage your sales pipeline and track performance
- Understand what the numbers mean and what decisions to base off them
- Forecast future results and make changes to be able to achieve the desired outcome.
Ready to get a head start on your financial planning?