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Lightspeed Budgeting: A Tool for Management Consultants
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Companies that have the ability to quickly review and resubmit budgets will have a sustainable competitive advantage and will be much more willing to make business improvement investments
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Convincing management or your customer to invest in business improvements is always a challenge. Management is understandably reluctant to spend the money if they cannot be sure that they will have the visibility to monitor the process and make the appropriate adjustments as conditions change.
Lightspeed Budgeting can turn the onerous, annual budgeting process into a companywide, operational roadmap that will give your customers the confidence to invest in the pursuit of business improvements.
Consider the following:
• The release of the annual budget is intended to align the expenditure of resources with corporate strategy; but, as the year progresses the effort turns into a spending cap for each cost center
• Budget systems do not provide the ongoing insight as to what variances have arisen and what action is necessary to maintain or adjust to support corporate strategy
• Polls have consistently shown that companies want more frequent reforecasting because it will likely discover variances in key assumptions meant to reinforce corporate strategy and reveal problems that require action that will allow the company to apply available resources in a more effective and agile manner
• Although more frequent reforecasting seems to be difficult and costly the final cost to the company may be far greater due to the loss of visibility across the organization as to how budget spending is supporting the current corporate strategy, not to mention the endless meetings to discuss the status, application and purpose of budgets
• Companies need a way for cost center managers to easily review the current status of the budget and quickly make any necessary adjustments to support the corporate strategy and resubmit the reforecast
• Without a way to easily understand the original, underlying assumptions and compromises in concert with how the budget has been applied to date, companies are forced to reforecast by going back to the cost center managers and requesting a bottom-up reforecast. Then, managers search to find their original spreadsheets, documents and PowerPoint presentations and start all over again resulting in a costly and time consuming effort.
Lightspeed budgets allows a company to reduce the reforecast cycle dramatically
and provides a sustainable, competitive advantage for your customer or management.
| Create a Roadmap for sustainable process improvement
Start easy with one or two projects
Integrates to existing budget systems
No client software - browser based
Integrates with other Microsoft products
Colored Alerts show areas needing resolution
Easily review, reforecast and rebudget to stay on track
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To learn how Lightspeed Budgets can help drive results for you click here to learn more or contact us for a demo delivered directly to your desktop at sales@accessig.com
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