Budgeting Season Best Practices. Fall is finally here! Cooler weather, beautiful leaves changing. And while fall may be one of our favorite seasons of the year, budgeting season is absolutely not. Your company employees will spend late hours, and long nights, to sort out the budget. How does it normally go for your professional services organization? Does it run smoothly? Or do you feel like your drowning in spread sheets with mind numbing lists of numbers and reports? Do you feel limited using Excel? We understand the limitations of spreadsheets and manual data collection, and that these can often drive you insane. Here are our Budgeting Season Best Practices :
Use The BEST Tools: There have been a few detailed blog posts on our love for Excel. We recognize how awesome it is, and how it has stood the test of time, being used by almost every single business in the world for some type of data collection & reporting. But we also recognize, at times like these, (Budgeting Season), Excel has limitations. There are tools that you can use, that will not completely eliminate Excel, but will instead enhance it. Your budgeting season will be smoother, data collection simpler, and time and resources used CORRECTLY during the fall months. These tools, like our onePlan, offer flexibility, control, are faster & save you TIME.
Expand those tools, by PLANNING: Static budgets are a thing of the past. We realize now that our businesses are always changing. Why plan with old numbers and details? With a continuous planning model, data is constantly updated for you. Answering questions you have quickly and re-forecast based on market change. Use your old numbers to answer the questions through the future. You will be able to course correct half-way through the year, and have an even more accurate budget by budgeting season next year.
Hopefully this is the last time we have to write about “Survival Tips.” Because it shouldn’t feel like surviving. Budgeting season should feel like just a regular part of your year. Finally, it can be fast, easy, simple and streamlined. Adopting new practices and tools is how you stay competitive in your field. And it is essential to better performance. If budgeting is your pain, let’s heal it! You can reduce your budgeting cycle by WEEKS of time. Bragging about how efficient you are next year will be a lot more satisfying than complaining about the tedious budgeting season.