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It’s the time of the year for strategic planning and budgeting

CFO Simplified

Most successful companies have an annual planning process to put together specific plans and goals for the upcoming year. If you’ve never done this type of thing before, it may be best to start with an income statement budget that specifies month-by-month expectations for revenues, line-item expenses, net income, and EBITDA.

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The Benefits of Automating Budgeting Processes

Centage

Spreadsheets like Excel can be valuable to small businesses for tracking costs and organizing their finances. Finding a tool for automating budgeting helps companies maintain and grow their business in numerous ways. A solution that provides automated budgets can easily wrangle this data into absorbable metrics that tell a story.

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Budget Tracking for Nonprofits

The Charity CFO

Budget tracking is the process of monitoring your nonprofit’s income and expenses to ensure they stay within your planned budget. Effective budget tracking is essential to financial transparency, efficient resource allocation, and strategic planning for your nonprofit.

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Financial Planning for 2023 and Beyond: Steps to Nail Your Three Year Strategic Plan with Modern FP&A

Centage

As you start your financial planning for 2023 and beyond, follow these steps to solidify your three-year strategic plan and boost the odds of achieving your business’ goals. To that end, it’s essential to have a software program that lets you create multiple versions of your budget based on different financial models.

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The importance of planning and budgeting alignment

Centage

Planning is the first step towards achieving growth for any organization, and budgeting is the ongoing process to manage this growth. Planning and budgeting alignment ensures you have what you need to wisely allocate funds for growth. It’s a common mistake for a company’s budget to be at odds with its strategy.

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Collaborative Budgeting Process

Spreadym

Collaborative budgeting is an approach to financial planning and management that involves the active participation of multiple individuals or teams within an organization. It goes beyond the traditional top-down budgeting process, where senior management sets financial targets and allocates resources.

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Is your budget presentation boardroom ready?

Centage

Your teams have spent months creating, adjusting, re-creating, and finalizing your budget for the next year. You’re finally ready to bring your annual budget presentation to the board. Is the board going to care that you’ve allocated 20% of IT’s budget for training? Or that accounting has planned $5,000 for a new printer?