Budgeting Software That Fits

The importance of having business accounting software that works the way your company does  Accounting software purveyor AccountMate Software uses the slogan “Software that Fits” to describe the essence of their products, namely, software that fits every company that licenses it, either straight out of the box or through customization of source code by their […]

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 […]

How Can You Ensure Financial Statements Are Accurate? Smart Budgets!

This past summer, The Cheatham County School Board found itself in an uncomfortable position; the Cheatham County Commission called a special meeting so that its members could explain how the Board had made $878,000 revenue mistake in the school budget. The reason? An error in a spreadsheet calculated a subtotal of $439,000 in revenues two […]

Five Ways Smart Budgeting and Forecasting Can Improve Your Business

Budgeting season is here. For many CFOs and budget managers, the next few months will be an endless stream of data, requests and revisions. But what happens if after all the time, energy and resources devoted to it, the budget still doesn’t quite stack up? You likely already know the answer. The worst part? Discrepancies […]

Planning, Budgeting, & Forecasting: Why Tradition May be Dangerous – Part 2

Be open minded and explore opportunities for change In the first part of this blog article we looked at the traditional approach to planning and budgeting and recognized a number of flaws, regardless of how sophisticated some of the modeling capabilities of several of the leading solutions were. This raises a fundamental question: Is having […]

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 […]

Use of CPM Analytical Tools in the Budget Process

What really matters in the budget preparation and analysis process and why it should be implemented I was just reading an article on TechTarget.com by Barry Wilderman of Wilderman Associates, titled: The Benefits of using CPM (Corporate Performance Management) analytical tools for budgeting. Here the author walks the readers through the benefits of using CPM data and specific […]

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 […]