Business forecasting is a process used to estimate or predict future patterns using historical business data. Some examples of forecasting includes estimating quarterly sales, product demand, customer lifetime value,and inventory and supply-chain reordering timing.
Budgeting is a projection of your business's cash inflows and outflows on a month-to-month basis. Budgeting requires the preparation of a forecast and projecting your anticipated inflows and outflows and putting it all together to come up with a cash flow bottom line. Budgeting is an excellent tool to help you determine when or when not to make major purchases. Planning ahead will let you take advantage of lower prices, discounts, or better financing options.
What you can get when you sign up for budgeting and forecasting with Abundant Solutions...
We will provide assistance in planning allocation of available funds to departments within your company in order to control overspending based on historical data.
Be in control of the direction and success of your company by making well informed decisions. Let us help you attain financial freedom by requesting a Free Consultation below.