The Importance of What-If Scenarios to Financial Planning

It would be great if everything in your business went exactly as you wanted it to. That isn’t the way of the world, though, and it’s certainly not the way of business. For example, imagine that you’ve spent weeks preparing your budget. Business leaders have added their input, projections have been completed, and the numbers […]

Why Your Business Should Be Running What-If Scenarios

If you think once you’ve forecasted your budget for the year that you’re set, think again. Despite dramatic advancements in technology, all too often businesses fail to compare their forecasts to actuals. Or they don’t make any adjustments over the course of the year. Naturally, part of that has to do with the way business […]

The Details, Drivers, and Decisions of ‘What-If’ Scenario Planning

Options and opportunities are everywhere. But how do you weigh them? Some don’t require making a choice between them. Others are mutually exclusive and you’ve got to make hard choices. Whether between two good options, looking into something else, or doing nothing, decision making is just part of the job. Both opportunities and crises continually […]

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 […]

Are you Challenged Managing your Annual Software License Fees Renewals?

How you can have Budget Maestro manage this task with ease and accuracy All organizations rely on software products in their daily operations across all departments and business segments. Enterprise software ranges from ERP, accounting and finance applications to engineering, CAD, CAM, marketing and sales automation and also includes the software I am using to […]

Financial Planning and Analysis – Art or Science?

How technology reduces the “art” element in successful FP&A activities This morning I received an e-mail from Proformative.com inviting me to a webinar titled “The Art (and some Science) of Great FP&A”. I am glad to see a resurgence of such an important facet in any company’s finance department and the increasingly stronger endorsement of this function […]

Forecast and Monitor your Loan Covenants Compliance

How loan covenant compliance can be forecasted with Budget Maestro and Displayed by Analytics Maestro   There has been a recent series of blog posts on this site of why companies must regularly forecast their balance sheets Why you Must Forecast your Balance Sheet Part 2. There is also an older blog post on one of […]

Forecast and Monitor your Key Financial Ratios

How key financial ratios can be forecasted with Budget Maestro and Displayed in Analytics Maestro I recently posted a series of articles on this blog on the importance of forecasting a company’s balance sheet and how the financial health of the organization can be predicted using data available from the actual accounting system and from […]

Why you Must Forecast your Balance Sheet – Part 2

It is not as hard as you think and the results will greatly justify the effort In the first part of this series we saw why we need to be able to forecast our company’s balance sheet. In this installment we will see examples of how a forecasted balance sheet is constructed and a software […]

Why you Must Forecast your Balance Sheet – Part 1

It is not as hard as you think and the results will greatly justify the effort I have written several times on this blog about forecasting a company’s balance sheet and the many benefits one gets from it. If this is so beneficial, then why is this so hard if not impossible to do using […]