How AI is raising the bar for CFO budget planning
CFO Dive
DECEMBER 12, 2023
AI can analyze vast amounts of financial data to predict trends, model budget scenarios, and deliver insights, writes Falconi’s Bernardo Miranda.
Collaborative Budgeting Process
Spreadym
NOVEMBER 8, 2023
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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Budget vs Actuals: The Key to Measuring Business Performance
Centage
SEPTEMBER 11, 2023
Staying on top of your financial performance is vital for running your business. Unfortunately, creating a perfect budget doesn’t mean that you’ll follow it. Budget vs actuals analysis is one of the most effective ways to maintain a clear picture of your company’s performance. Gather the Data. Monitor and Repeat.
Annual Budgeting Process: look at 2024
Spreadym
DECEMBER 1, 2023
The annual budgeting process refers to the series of steps an organization undertakes to plan, prepare, and allocate financial resources for the upcoming fiscal year. These goals will guide the budgeting process. These goals will guide the budgeting process.
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All About Variance Reporting for Corporate Budgeting
Spreadym
OCTOBER 10, 2023
Variance reporting is a financial and management accounting process used to analyze the differences between budgeted or expected figures and actual performance results. Key aspects of variance reporting include: Budget or Target Figures: This is the baseline against which actual performance is compared.
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Budget Preparation Process: Full Step Guide
Spreadym
SEPTEMBER 12, 2023
Budget preparation is the process of creating a detailed financial plan that outlines an organization's expected income and expenses for a specific period, typically for a fiscal year. Here are the key steps involved in budget preparation: Define Objectives and Goals : Begin by establishing clear financial objectives and goals.
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Differences Between Budgeting and Forecasting in Business
Spreadym
SEPTEMBER 19, 2023
Budgeting and forecasting in business are both financial planning tools used by businesses, but they serve different purposes and have distinct characteristics. Here's an overview of the key differences between budgeting and forecasting. They are meant to provide a current and dynamic view of expected financial performance.
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Budget vs. actual variance reporting: What you’re looking for
Centage
NOVEMBER 1, 2023
Financial planning is a crucial part of sustaining and growing your business. The office of finance, department heads, and C-suite executives spend much of their time making, checking, and approving the yearly budget. And financial management doesn’t stop once the annual budget is approved.
2023 and Beyond: Budgeting & Planning with QuickBooks Online Advanced to Manage Through Constant Change
Centage
DECEMBER 7, 2022
the maker of QuickBooks Online Advanced, to bring automated budgeting, forecasting, reporting and analytics capabilities to QuickBooks Online Advanced customers and mid-market organizations looking for more robust and streamlined budgeting capabilities. Real-time reporting – specifically around variance reporting, and alerting.
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How to Create a Nonprofit Operating Budget
The Charity CFO
JUNE 26, 2023
Whether you’re a new organization or an established one working to get its finances under better control, there are few more important things to get right than your nonprofit operating budget. Nonprofit operating budgets differ from regular for-profit business budgets in key ways.
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5 ways financial forecasting future-proofs your annual budget
Centage
JANUARY 3, 2024
As we ring in a new year and brace for all of the opportunities and challenges it will bring, one resolution should be near the top of the list for finance professionals: embracing flexible financial forecasting to future-proof your annual budget. Financial forecasting gives businesses the agility to adapt to changing conditions.
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The 5 best budgeting software solution to increase efficiency of the business
Spreadym
MAY 26, 2023
Budgeting software is an application designed to assist businesses in creating, managing, and tracking their budgets. It helps automate and streamline the budgeting process by providing tools and features to input financial data, allocate funds to different categories, monitor expenses, and generate reports.
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What is the difference between planning, budgeting and forecasting for a business?
Spreadym
JUNE 8, 2023
Planning, budgeting and forecasting for a business are three distinct financial management tools used in business, each serving a different purpose. Key differences between planning, budgeting and forecasting for a business Here are key difference between planning, budgeting and forecasting for a business.
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Planning, Budgeting, and Forecasting: Can they be Used Interchangeably?
The Finance Weekly
MAY 25, 2022
Planning, Budgeting, Forecasting. A company’s plan, budget, and forecast are usually talked about all together, whether it be in the boardroom, in a company goal-setting sheet, or in general talk about FP&A. Finance leaders and executives build teams and make decisions based on the financial data and the goals that result from it.
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Here’s a Quick Way to Create a Small Business Budget
KG Virtual CFO
OCTOBER 8, 2020
A budget provides the financial data that support your company’s vision, mission, and goals. It outlines key information on both the current state of your finances (including income and expenses) and your long-term financial goals. Don’t forget to factor those expenses into your budget as well.
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How to Adjust Your Business Budget When Life Happens
KG Virtual CFO
OCTOBER 12, 2020
Your business budget puts you in control of your company. It helps you avoid overspending and track financial goals. But with the coronavirus in full swing, you may have had to throw your business budget out the window to stay afloat. Maybe you had no choice but to temporarily close your business due to new regulations.
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How to Find the Best FP&A Candidates for Your Team
Spreadym
OCTOBER 3, 2023
Financial Planning and Analysis (FP&A) candidates are professionals who specialize in financial planning, budgeting, forecasting, and analysis within an organization. They play a critical role in helping companies make informed financial decisions and allocate resources effectively.
Top trends in budgeting, planning and forecasting
Future CFO
AUGUST 23, 2019
The days of manual, spreadsheet-based budgeting, planning and forecasting processes are numbered.
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How to Implement an ERP Solution at Your Startup
Navigator SAP
MARCH 4, 2022
Next, budget usually plays a critical role in the selection of a system. Some businesses only need operational support that streamlines financial data and processes. Manufacturers, however, likely need a system that can help coordinate and allocate resources for tracking materials, orders, and production.
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How to Fix Your Nonprofit Accounting
The Charity CFO
MARCH 28, 2024
Focus on Budgeting and Financial Planning Like standardized financial policies, budgeting is an important aspect of your nonprofit accounting system. Your budget helps you plan out expenses and revenue in advance so you have a better idea of the financial health of your organization.
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Financial Planning & Analysis
Boston Startup CFO
APRIL 12, 2024
Through meticulous analysis of your historical financial data and current business operations, we will develop accurate and reliable cash flow projections, enabling you to make informed decisions, anticipate potential cash shortfalls, and implement effective strategies to maintain optimal liquidity and financial stability for your business.
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Get to Know Centage’s Brand-New Premium App for QuickBooks Online Advanced
Centage
MAY 3, 2022
the maker of QuickBooks Online Advanced, to bring automated budgeting, forecasting, reporting and analytics capabilities to QuickBooks Online Advanced customers and mid-market organizations looking for cloud-based FP&A solutions.
What is Financial Planning and Analysis (FP&A)?
Spreadym
JUNE 27, 2023
What is Financial Planning and Analysis or FP&A? FP&A is a process used by organizations to develop and manage their financial plans and make informed decisions based on financial analysis. What is Financial Planning and Analysis? The primary objectives of FP&A.
When consolidating multiple P&Ls breaks your spreadsheets
Centage
NOVEMBER 22, 2023
Finance teams encounter unique hurdles in their FP&A processes when the intricate web of financial data spreads across different business units, locations, or product lines. Each budget manager received a copy of their prior year operating expenses and updated them. This is a common problem among controllers and CFOs.
Formula-free accounting: FP&A on easy mode
Centage
SEPTEMBER 26, 2023
Too often, the things that get broken are Excel formulas that touch many aspects of your business’ budget and financial planning. Centage’s Planning Maestro empowers finance professionals to build driver-based budgets effortlessly, eliminating the need for programming and formulas. Formula-free budgeting? No programming.
Key features for FA&P software to choose the best one
Spreadym
APRIL 27, 2023
Financial analysis and planning (or FA&P) software is a type of business software that helps companies manage their finances and operational activity by analyzing financial data and providing tools to plan, forecast and make budgets for efficient business growth. Visit the link to learn more about it.
How to streamline multi-location healthcare FP&A
Centage
DECEMBER 8, 2023
Financial management can be a significant challenge for multi-location medical facilities. As multi-site healthcare businesses grow and evolve, the demand for advanced financial planning and budgeting solutions shifts from being a “nice to have” to presenting a crucial need for attaining business objectives.
Basics of Financial Variance Analysis
Spreadym
JULY 26, 2023
Financial variance analysis is a technique used by businesses and organizations to understand the differences between budgeted or expected financial outcomes and actual financial results. Identifying Variances: The next step is to compare the actual performance data with the budgeted figures.
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Top 3 picks for Cloud FP&A out of NetSuite in 2022
Lime Light
OCTOBER 20, 2022
Organizations that are using NetSuite, however, can often find themselves resorting to manual and tedious methods when it comes to financial planning, forecasting revenue, and analyzing financial data. Here are a few common issues: Versioning issues : “Opex Budget Template Version 7 final”. Does that sound familiar?
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The CFPB Takes A Closer Look A Consumer Choices In Financial Data Sharing
PYMNTS
NOVEMBER 17, 2016
The CFPB notes that these financial records are often key to emerging services aimed at making it easier, cheaper, or more efficient for consumers to manage their financial lives. The services range from tax help to budgeting advice. The CFPB has concerns that information and control are not uniformly provided across the market.
Multi-entity financial management: How to ensure accurate reporting
Centage
JANUARY 10, 2024
Dedicated FP&A software to roll up reports across locations and divisions One of the most important aspects of multi-entity financial management is creating a solid consolidation framework. The development of a streamlined and efficient budgeting process is crucial.
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Capitalising on the Fintech apps in APAC
Future CFO
AUGUST 1, 2023
The rise in digital transformation (DX) initiatives and the adoption of mobile technologies have also contributed to the demand for cloud-based financial applications in Asia/Pacific. Companies are increasingly seeking secure and compliant solutions to manage their financial data.
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2024 predictions for finance: From virtual payments to business travel (part 1)
Future CFO
DECEMBER 17, 2023
Technology and some budget flexibility will boost confidence The theme of 2023 is doing more with less, and that will continue to be the case as economic uncertainty carries over into 2024, said Tom Lavin, Chief Controlling Officer, Marketing and Solutions. “And Finance teams spend significant time on financial planning," he said.
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Cashflow visibility: Finance execs, C-suites report low confidence
Future CFO
NOVEMBER 17, 2022
With external pressures that are hard to predict, real-time visibility over financial data, processes and working capital will be key to survival, leading to greater pressure on CFOs and those who report into them, according to the research.
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12 Best Paying Jobs in Finance in 2023
CFO News Room
DECEMBER 16, 2022
As a financial executive, the chief financial officer (CFO) is responsible for the financial health of an organization. The CFO role is multi-faceted and includes everything from financial planning and analysis to business budgeting, financial decision-making, and risk management. Budget Analyst.
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Financial Planning for 2023 and Beyond: Steps to Nail Your Three Year Strategic Plan with Modern FP&A
Centage
OCTOBER 17, 2022
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. Doing this allows for communication and collaboration among budget administrators and other experts. Financial planning comes with numerous challenges.
The Relationship Between a Fractional CFO and Your Public Accounting Firm
Beacon CFO Plus
NOVEMBER 30, 2023
Define Roles and Responsibilities: The CFO typically focuses on financial strategy, planning, and management, while the accounting firm handles compliance, audits, and financial reporting. They should have a clear process for sharing information and data. Keep in mind the things a fractional CFO will not do.
3 Steps to Improving Agility in Financial Budgeting and Planning
Planful
AUGUST 31, 2016
Whether the cost of oil is increasing or the demand for products is on the decline, Finance teams need to be able to respond immediately to ensure their budgets and plans reflect these shifting circumstances. Instead, many organizations are adopting the budgeting and planning applications found in modern, cloud-based EPM software.
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Where Can FP&A Career Path Take You?
Fpanda Club
SEPTEMBER 2, 2021
The list of typical FP&A activities usually includes planning, budgeting, forecasting, analysis, management reporting and performance management. Budgeting is a type of short-term planning whose goal is to transform strategic objectives into an operational plan by allocating available resources.
How Tech Can Help Uncover The Story Behind Financial Data
PYMNTS
JULY 5, 2017
Last month CXO Solutions announced the launch of CXO-Cloud for Oracle’s cloud-based Planning and Budgeting Cloud Services, another sign of support for the cloud by the firm. The cloud certainly has given this space a chance to improve, though.
How to Create Financial Reporting Dashboard for CFO
Spreadym
AUGUST 17, 2023
A financial reporting dashboard is a visual representation of financial data and key performance indicators (KPIs) presented in a consolidated and easily digestible format. This allows for a personalized view of the financial data. Organize the dashboard into sections or tabs for different financial areas (e.g.,
Partner Spotlight: G7 Tech Services
Centage
NOVEMBER 21, 2022
With that said, we also do work with smaller organizations that are frustrated with not having transparency into their financial data or struggling to keep up with demand and need to start automating some of their technology-based processes. Who are some of your notable clients?
The benefits of using a cloud finance solution
Future CFO
JANUARY 14, 2024
Trusting the cloud to manage financial data and reporting can be a game-changer for financial planning and analysis. Financial performance management platform Planful enumerated the benefits that cloud finance solution can bring to the table: Cost savings and predictability. Scalability.
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5 challenges for nonprofit FP&A — and how to solve them
Centage
NOVEMBER 27, 2023
Nowhere is that more apparent than in financial planning. Budgeting and financial forecasting are two of the most important business activities for nonprofit FP&A. Budgets should be a tool in your financial toolkit, not an inflexible artifact that can’t guide or advise.
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