What Is Budgeting
Budgeting system – this is the practical implementation of an information system concept and methodology of budgetary planning and financial analysis company. Budgeting system should not only plan and rapid control of the company's turnover, but also to determine the causes of deviations, and ideally also provide an opportunity to model the financial implications of management decisions. This is possible in the implementation the relationship of a balanced scorecard of the company and budgeting system. Budgeting system allows you to organize people, processes and technology in accordance with the general plans to implement and optimize the set of business strategy. The product provides companies with an integrated system of budgeting for budget planning business, measuring performance, performance-based action reliable data and rewarding employees according to their work. Budget planning – is one element of budget management system, whose purpose is to produce and approve the budget plan for the Based on projected data and in accordance with the objectives of fiscal policy. Budgeting system typically includes the following features: a unified budget planning, reporting and analysis that reduce processing time and allow real-time to receive feedback and make adjustments to the plan, the possibility of moving prediction, flexible budgeting and long-term forecasts, sending automatic notifications to alert users when not achieved the planned goals or points of the plan are executed with a delay, budget planning – the use of sophisticated methods of analysis 'what-if' to assess various options and deciding on the best fiscal management activities, the creation of conditional statements and multi-level business rules, automatic calculation of complex (eg, conversion rates and limits); the use of multi-access methods, including access via the Web, work offline and work on your desktop computer specialized for particular industries packaged applications designed to reduce implementation costs and offering industry best practices, specially adapted to address specific business problems.