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Budgeting and Forecasting
Business decisions are easier to make when they are backed by a well designed budget.
Understanding the possible financial impact of your decisions is critical to future business growth and profitability. Many businesses find it difficult and time consuming to perform the ongoing budgeting and forecasting processes. Budgeting and forecasting does not have to be the frustrating task that it sometimes turns out to be.
Forecasting involves projections over multiple years. It is used to perform what if scenarios. Budgets are for control purposes to make sure your spending is in line with revenue. Dedicated budgeting and forecasting software tools are a relatively new breed of software that are just coming into their own for small and medium sized businesses.