Beware the Error: How Spreadsheets Can Ruin Trust with Leadership

Any leader will tell you that trust is a critical component of business. Customers respond positively to businesses they trust, and abandon those they don’t. Good managers spend at least part of their day building and establishing trust with their employees. Employees know that company leaders need to trust them to do their jobs, and […]

Financial Forecasting for Balance Sheets

If you read this blog with any kind of regularity, you know that we feel pretty strongly about the importance of financial forecasting. Budgets are valuable assets, a direct line of sight into the health of your business — as long as you take the time to look at and update your forecasts weekly or […]

Are Rolling Financial Forecasts Right for Nonprofits?

The world we live in today changes more quickly than any time in our history. Access to information and news can cause people’s opinions and actions to turn on a dime. The financial position of a nonprofit can be a victim – or a benefactor – of these changes. But traditionally, nonprofits have relied on […]

Impressions from the First Budget Maestro Annual User Conference

A memorable experience and confirmed realizations I just got back home from the first Budget Maestro Annual User Conference. The event took place at the beautiful Hotel Marlowe in Cambridge, Mass., overlooking the Charles River with the Boston skyline in the background. With hot but otherwise beautiful weather, the conference was off to a great […]

How To Successfully Handle Changes in Customer Demand

I’ve been writing in this blog about how small and mid-sized businesses (SMB) can put Planning Maestro to use and have a year-round practical tool that can be used effectively unlike the “let’s finish the budget preparation chore and shelve it until next year” approach that so many companies unfortunately take. I was using the […]

The Secret to Streamlining Project-based Business Budgeting

Professional service firms and their corporate counterparts have the interesting challenge of creating proposals, managing projects, and staying within budget, all without producing a physical product. Client and project-based work is the bread and butter of consultants, accountants, financial advisers, project managers, and a myriad of other professionals. The silver bullet to managing these projects […]

Make Faster, Better Decisions: How to Use Your Budgeting Tool for What-If Analysis

The budgeting process for most companies occurs over several months. You prepare the budget model by adapting last year’s Excel spreadsheets, plan and distribute them to each department head, and answer their questions about how to use it. Then, once they’re done, you proceed with the painful process of consolidating all those spreadsheets together to […]

The Benefits of an All-Encompassing Budget

Why using inadequate tools and approximating the balance of forecasted Balance Sheet accounts is a bad approach for budgeting I recently had a discussion with a colleague who is a partner in a local management consulting firm about organizations’ attitude toward the planning and budgeting process and the benefits they reap from these activities.  I […]

The Dreaded Statement of Cash Flows

How you can automatically generate an actual Statement of Cash Flows regardless of what ERP software you use Those who have experienced the manual preparation of a Statement of Cash Flows using beginning and period end Balance Sheets plus a periodic Income Statement know that this can be a chore and can cause a little […]

Advantages of Cloud-Based Business Budgeting Software

Using spreadsheets and hard drive-based business budgeting software can keep a large volume of business data organized can be useful, but the advantages of a cloud-based solution are difficult to deny. From maintaining a single streamlined edition of the master file to permitting unlimited users to alter the file and even limiting most individuals from […]