Budgeting has a major contribution to companies overall success or failure, as with its activities, It improves decision-making process and also will foster a disciplined financial management culture that will deliver a true competitive advantage using the key performance indicators or KPI’s which helps in quantifying the overall business performance.
- Assessment of existing Operating / Capital Budgeting framework includes a definition of Profit / Cost centers and effectiveness-testing for the deviation management process.
- Utilizing the best practices to structure (Re-structure) the Operating / Capital Budgeting Models which includes the Implementation of Dry-Run support for the first year.
- Providing awareness workshops to the divisional executive management concerning budget forecasting techniques.
- Evaluation of existing financial and operational KPI`s and definition of the standard norms based on the industry requirements.
- Designing the KPI’s needed for tracking and evaluation of the potential deviations.
- Implementation of KPI`s reporting dashboard for ongoing executive management monitoring.