The best budget is not going to succeed unless your employees do their part. You need to have staff onboard, not just for the budget itself, but also for the new budgeting solution. This goes back to knowing your why –when you have a strong reason for making a strategic…
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Just because your budget is complex does not mean that your budgeting process has to be. As you ramp up your forecasting, you need a tool that adapts with you. Spreadsheets and email just do not provide the flexibility you need and are often very administratively heavy to update regularly….
Read MoreNow that we’re a full month into 2019 already, it is an ideal time to take a critical look at your business processes and evaluate what is working well, and what isn’t. The budgeting process is one of the most critical, so it better be good! If you’re worried it…
Read MoreWhether you are creating a budget for your small business or a large corporation, there are two main approaches: the top-down approach and the bottom-up approach. Some companies and their employees swear by the top-down approach, but others believe the bottom-up approach provides the most advantageous view. Which one do…
Read MoreA balanced budget can mean several things. It can have the traditional meaning of balancing your expenses and income so that you do not run a deficit. But it can also mean balancing your time and business resources during the budgeting process. Your budget tells a story about your business…
Read MoreYou already know that you need to sell your products or services to your customers, but did you also know that you need to sell your budget to your team? As we wrote about last week, budget accountability is everyone’s responsibility. Good corporate governance depends on getting your team on…
Read MoreMake Sure Your Strategic Planning and Budget are Aligned Every business needs a budget, right? But how do you know if your budget is right for your business? For most organizations, it is not enough to simply track all of its expenses and revenue. For your business budget (and your…
Read MoreRunning a not-for-profit organization can be very different from leading a business. While the two can share similarities, non-profits often have unique opportunities and challenges that corporate entities just don’t have to face. One of the areas that can be unique for not-for-profits is the budgeting process. Most, if not…
Read MoreIn non-profit management, a strong budgeting process is more important than ever. Making the most of your resources and planning strategically can help guide your organization and allow you to do more good. The budgeting process for a not-for-profit can look similar to a for-profit business, but there are some…
Read MoreYour business’s IT infrastructure lays the foundation for innovation. Creating a strong IT strategy is even more important for growth, especially as we see new software and technology emerge on what seems like a daily basis. Part of building a solid IT strategy is, of course, budgeting. New technology can…
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