Solutions Budgeting and planning

Budgetary planning

A comprehensive financial planning system is critical in sustaining an enterprise and keeping a competitive edge in the market. It ensures the effective and efficient use of financial resources within the corporate and contributes to the forward planning which results in better coordination of activities across different functional units. Also, having more accurate and timely information leads to more transparent and credible financial forecasts that increases confidence within the investment community. Despite all the above benefits, it is a major challenge to implement an extensive and in-depth financial planning system timely in an enterprise.

The difficulty mainly arises from the various accounting and reporting standards across the organization. It is a tough work of categorizing data into a central system and not to say to report and analyze comparative results that help produce insights into the future of the company. This is especially true for international organizations that store financial data in geographically scattered systems. Moreover, the planning and budgeting process within many companies used to be complex and prone to errors. As a result, most of the planning and forecasting process is conducted within the finance department. Field and operational managers, the individuals best acquainted with day-to-day operations, are largely left out of the process. This kind of process consumes disproportionate number of resources but end up providing little value for the enterprise.

Bematek has sound knowledge and experience in implementing wide-ranging financial planning and reporting solutions for enterprises. With our approaches and implementation methodologies including in-depth analysis of information, our clients found improvements in both accuracy and efficiecny. Budgeting and reporting time is greatly shortened despite the increased accuracy. This in turns facilitates business decision-making process, and helps keep the enterprises ahead of their competitors and in tune with their customers.

For more information about the solutions offered by Bematek for budgetary planning and reporting, please contact us directly.