Save time and create a successful budget process

If you’re working in a large organization, you’re probably aware of how time-consuming the budget process can be. In this article we’ll give you 3 tips on how to save time and still create a successful budget process. 

 

3 tips for creating a successful budget process

One of the most important factors in planning your business future is to monitor your economic situation, for example by, creating a budget for the annual year. So, what will it take to create a successful budget process and still save time?

1. Access to historical data

One of the most important elements in the organization is to create a budget for the future. To be able to plan for the future it’s important to have access to historical data. One of the first steps is to invest in a reliable budget software that gives you access to collect, compile and analyze data. 

2. Clear and measurable goals

Another important element to succeed with the budget is to set up measurable goals in the organization. It’s a huge advantage if the budget software is useful for other types of planning processes like, forecasting and strategic target management.  

3. Inform the organization

A challenge with a budget is to inform the entire organization on what’s expected from it and how you’re supposed to work towards the same goals. If you’re able to make it work, you will have a higher chance improving the performance. With the right information for all levels you will reach success. 

Speed up the process with Mercur Business Control

We have produced the market leading solution for corporate performance management and business intelligence, Mercur Business Control, a solution that can easily be integrated and be implemented in your organization.

We have helped hundreds of leading organizations with different challenges for over 40 years.

A good example of this is Tekinska Verken in Linköping who implemented Mercur Business Control and saved time creating a successful budget process. 

Contact us for more information on how we can help you with your budget process

 

Mercur Solutions (UK) Limited - UK office

Mercur Solutions Limited
Ocean House, The Ring, Bracknell RG12 1AX, United Kingdom
+44 (0) 1344 388 025

Mercur Solutions AB - head office in Sweden

Mercur Solutions AB
Vretenvägen 13, SE-171 54 Solna
+46 (0)-459 69 00

 

Malmo Office

Stortorget 3, SE-211 22 Malmö
 

Gothenburg

Östra Hamngatan 17, SE-411 10 Göteborg

Mercur Solutions

A Swedish company with over 40 years of experience, delivering solutions for performance management and business intelligence.

  

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