Business Budgeting and Forecasting Mistakes Finance Teams Face – And How to Combat Them
The start of a new year is always a time for planning. What lies ahead? For many small and mid-sized businesses, 2022 looks promising, but there are some open questions. Will supply chain hiccups continue, and if so, how will it affect the business? Will the labor shortage continue? If yes, will you have the […]
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Cash Flow Forecasting: The Key to Future-Proof Your Business for 2022
Across the globe, the business environment remains in a seemingly endless state of flux. Supply chain shortages, major gaps in the workforce, and a never-ending pandemic are impacting each and every industry and contributing to this perpetual state of uncertainty. Is your business set up to handle these dynamic market conditions? Do you have the […]
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Strategic Budgeting and Forecasting: Five Questions to Consider
While spreadsheets have long reigned supreme as the foundation of budgeting and forecasting for many organizations, the shortcomings of this legacy, siloed tool have become too hard to ignore. Relying on archaic spreadsheets to guide complex business models automatically puts your organization at a disadvantage – sacrificing time and accuracy while stunting strategic decision making. […]
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Financial Metric Madness: How SMBs Can Set Meaningful KPIs for Their Business as Part of Their Financial Reporting and Analysis Process
It’s that time of year again when many organizations are busy setting business objectives and planning budgets for the next fiscal year. Part of that effort requires a deep dive into the overall financial health of your organization. That includes analyzing key financial metrics as part of the financial reporting and analysis process to see […]
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People, Processes & Technologies: Defining the Tools for Best-in-Class FP&A
The past 18 months have been difficult for finance teams. Modern FP&A professionals are charged with providing strategic, data-driven advice that helps leadership make sound decisions in the near and long-term future. Finance teams need to answer specific questions, such as: What will the business look like given the economic climate? Where and what are […]
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Why Financial Forecasting Is More Important Than Your Annual Budget
Once upon a time, businesses were satisfied with creating an annual budget. You used your budget as a measuring stick to gauge performance against assumptions made months ago. You celebrated if you were on target; and if you were off the mark, you brainstormed ways to make up the difference. If your board asked you […]
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Financial Planning for Nonprofits – It’s Time to Arm Your Finance Team with Modern FP&A Tools to Thrive in a Post-Pandemic World
Building and managing an effective budget and plan can be daunting no matter what industry, but financial planning for nonprofits can be particularly difficult. For those dedicated finance professionals working in the nonprofit sector, the myriad of unique industry challenges from managing multiple stakeholders and funding sources, to understanding compliance standards and creating financial processes, […]
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Tips for Strategic Workforce Planning in a Post-Pandemic World
While workforce expenses have always monopolized the largest part of a company’s budget, (and likely what keeps you up at night!) in the wake of the global pandemic and a drastic shift to remote/hybrid work, workforce planning has never been more challenging to manage. Finance professionals must now consider new office related expenses, headcount attrition […]
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Forecasting on a House of Cards: Why You Need Synchronized Financial Statements for Cash Flow Forecasting
While businesses have adjusted to operating during a global pandemic there is still so much uncertainty. Is now the time to move forward with that planned investment? What about workforce considerations? What decisions need to be made about discretionary expenses? Dynamic market conditions may not be anything new but navigating the current business environment and […]
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