Up your Business Agility with Cloud-Based Budgeting and Forecasting
Published: May 26, 2016
This blog is part of our Growth Gets Complicated series, which discusses ways your mid-market business can scale with cloud-based, single-source financial and commerce management.
Although we wish demand kept to a straight line, that is definitely not the case. When you're affected by a number of factors, you need to see the constant curves or ups and downs coming your way in order to better prepare and adapt your business accordingly.
Most accounting systems only report on past transactions, so businesses are forced to add more and more spreadsheets, increasing manual data entry and confusion. Although Microsoft Excel is an easy-to-use and familiar tool, it can't provide detailed forecasting in time to really make a difference for your company. It takes time to build reports and update data - a process that is always prone to error.
Business Insight Beyond the Spreadsheet
In our eBook, Growth gets complicated. Prepare to scale your business with cloud-based, single-source financial and commerce management, we explain how a centralized business management solution can give you insight beyond the spreadsheet. With detail around current operations, trends and sales, you can move your business forward with confidence that you're making the right business decisions based on real-time data. Instead of simply going with your gut, you can base changes on facts that will ultimately reduce risk and costs associated with big decisions.
Budgeting and forecasting that goes beyond spreadsheets will allow you to include sales pipelines and seasonal trends in the forecasting analysis, monitor trends and changes in consumption at every level of your supply chain and adjust purchasing to optimize inventory. In addition, you can try out "what-if" scenarios between actual data and projections to make forecasts even more accurate.
To prepare for the ups and downs of business trends, you need a unified financial, operations and commerce management solution that can account for every piece of data available to improve the view of your future.
Check out my other blogs in this series, Meet and Master Customer Demands and More Spreadsheets Equals Bigger Business Gaps, to learn additional benefits of an ERP cloud solution.