Planning and Budgeting
Traditional Planning, budgeting and forecasting are going out of fashion.

Whatever people call them, it is important to have quantified targets for a period of time so that people know what they are supposed to be aiming for and have a coherent picture of the direction of the company.

The qualified targets should be linked to the strategic plan and provide direction. The frequency with which these targets should be updated will depend on the degree of change within the organisation or in the markets. Cost targets, for example, may need to be amended to reflect inflationary changes or changes in the volume of business. Income targets may need to reflect changes in interest rates, product mix, pricing changes and/or changes in the level of business activity.

Most financial services organisations will review their budgets every three months and may decide to revise them or to produce forecasts of the expected results in the new economic environment.

We can help to review and update your current budgeting process to ensure that the budgets are more than simply arcane financial plans.

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