Budgets are the foundation for thriving businesses and a key tool for understanding performance. It is one of the best financial tools in a company’s toolbox— having this information in hand can help better identify points in a company’s profit and loss statements where it either performed really well or went completely off the rails, especially as a company's financial situation will fluctuate over time.
Why do I need a B2A?
Budget-to-actuals can also help businesses plan, manage and forecast an influx of cash from a loan, grant, or series A. Moreover, proper accounting is likely a requirement for grants or investors.
A regular budget variance analysis can provide concrete steps to help a company save money, improve efficiencies, and contribute to business growth.
What you'll get from this download:
Accurate financial forecasting: A B2A tool allows businesses to accurately forecast their financial performance by comparing their actual results to the budgeted amounts. This helps businesses identify any discrepancies and take corrective actions to stay on track.
Better decision-making: A B2A tool can provide insights into a business's financial performance, allowing decision-makers to make informed decisions about resource allocation, cost management, and revenue generation.
Early detection of issues: A B2A tool can help identify issues early on, such as overspending or underperformance, allowing businesses to take corrective action before it's too late.
Improved accountability: A B2A tool promotes accountability within the organization by establishing clear financial targets and monitoring progress toward achieving them.
Better financial management: By using a B2A tool, businesses can improve their financial management practices, leading to better financial outcomes, such as increased profitability, cash flow, and return on investment.
Don't dread this budget season - be prepared!