The forward-looking planning of financial and other operational resources is crucial to your business success. By creating a reliable budget plan, you ensure the effective use of available funds. Both financial bottlenecks and idle funds can be prevented with intelligent planning.
Budget planning has changed considerably over the past few decades. Budgets are now more flexible and less rigid than they used to be. This makes it possible to react to changing market conditions at short notice. Just-in-time logics in production andlogistics are thus becoming feasible in the first place.
Consilix AG supports you in drawing up your budget plan. With the help of Jedox 's integrated budgeting andforecasting solution, we work with you to develop your flexible, future-proof budget plan.
Why is solid budget planning essential for companies?
First and foremost, a budget plan should help to make business activities economically sustainable. Planning all expenditure helps to ensure that no more money is spent than is earned. For companies with high investment requirements in particular, it is important to keep an eye on the costs incurred and to contain them if necessary.
There are also numerous other reasons for companies to draw up a budget plan. The most important of these include
- Defining goals and priorities: Budget planning makes it clear at an early stage what opportunities there are to develop the company further. This helps to prioritize projects and set goals for the company.
- Enable financing: Banks and other investors are reluctant to lend money without serious budget planning. If a loan is required at short notice, it is helpful to be able to present a solidfinancial plan quickly.
- Recognize limits: Conversely, a cleverly calculated budget also helps to recognize financial limits in good time. Projects that cannot be financed can thus be canceled at an early stage.
- Regular screening of the company: By creating a budget plan, you come into contact with all departments in your company. This gives you a better understanding of the work in all areas.
How to keep the budget plan in Jedox up to date and make adjustments
In the past, budget plans were usually fixed for a quarter or even longer periods. In the pre-digital era, this worked well for many companies. Today, however, different rules apply. Economic life in particular has accelerated significantly over the past 20 to 30 years. More flexible, adaptable budgeting and planning is therefore required.
Jedox is the perfect tool because it guides you through the creation of your budget plan. Jedox seamlessly integrates Financial Planning and Analysis (FP&A) in a unified, AI-powered system. Data from all departments of your company is (largely) automatically collected and analyzed by the software.
If significant, budget-relevant changes occur during the planning period, Jedox recognizes this at an early stage and informs you. This makes it possible to replan in good time. Naturally, this is particularly important in situations where fewer funds are available than planned. But even if new leeway arises, Jedox helps to take it into account in the budget in good time.
Important tips for a successful budget planning phase
Would you like to develop a completely new budget plan for a specific project or the entire company? Then it makes sense to start with the basics of planning. Be clear about how you want to plan your budget. In particular, the question of whether you plan your budget primarily top-down or bottom-up should be clarified at an early stage.
Jedox offers numerous helpful features, especially for the analysis of bottom-up collected data. However, this does not mean that top-down budget plans cannot also be developed and adapted using Jedox. Jedox is particularly suitable for the implementation of budget plans implemented using the counterflow method.
What advantages does Consilix AG offer me when creating a budget plan?
Consilix is your reliable partner if you want to get started with AI-supported budget planning with Jedox. We are the first exclusive Jedox partner in Switzerland and an award-winning Jedox Innovation Partner 2024 in the DACH region. This means that, in addition to our extensive experience with Jedox, we also have the necessary understanding of the requirements of Swiss companies.
Over the years, we have been able to demonstrate the potential of using Jedox innumerous successful projects.
When we support you in creating your budget plan, it is important for us to get to know your company. We know that companies have different financial planning requirements. There is no standardized solution in this area either. We will present you with various planning approaches and then work with you to develop a budget solution that perfectly suits your company.
Have we aroused your interest? Then don't hesitate to get in touch with us. You can reach us by phone, e-mail or via ourcontact form.