Budgeting and Forecasting Services

Enabling to Achieve Business Financial Goals

Budgeting & Forecasting Services that That Helps Guide Your Business Towards Better Business's Finance Health

Budgeting and forecasting are essential components of any successful small business or organisation. Budgeting and forecasting ensure that your business will have enough finances, whether they come from cash inflows or outflows. With accurate budgeting, you can plan all your expenses and anticipate potential cash flow problems. A budget also helps a company build a better financial plan to predict how much revenue they will generate as well as other expenses forecasted for the following year. Understanding budgeting and forecasting will allow you to achieve your short and long-term financial goals.
While budgeting is essential, it is different from forecasting. Forecasting prepares future financial projections with the use of historical data. Forecasting can help you develop goals and objectives for your company and establish parameters for decision-making. Forecasting enables you to estimate the expected future financial health of the business based on past data, competitors, and other companies in the industry. The end goal is to help identify trends needed to create strategies to meet your goals. We at Whiz Consulting provide budgeting and forecasting services to help businesses boost their performance.
Whiz Consulting Services provides these services, so our clients can see measurable gains quickly. We help clients with budgeting and forecasting to prepare a strategic plan for their business goals. For years now, we have assisted businesses with this service with the help of different budgeting and forecasting software like QuickBooks budgeting and forecasting. We even use specific budgeting and forecasting software for small businesses targeted towards small businesses. Whether it is industry-specific services like restaurant budgeting and forecasting or business size-specific services, we can customise it all for you. We provide accurate estimates of the future performance of your company. Outsourcing budgeting and forecasting services save time, which can be spent more productively on business issues.

Why do you need Budgeting & Forecasting?

No matter what industry your business belongs to or the size of operation of your business, you will always have to prepare a budget and forecast plan, even if it is not mandatory.
Let us understand why is it so important –

It helps to set a standard for assessing performance, and then businesses can make a financial decision based on these standards.
It helps to organize and allocate financial resources to different departments efficiently and helps track each department’s performance.
It helps businesses compare actual results with that of the estimated one, which helps understand the difference.
It helps business predict or take into account that unexpected issues might erupt and allow to take quick corrective measure when it happens.
These act as a financial communication tool used to express estimated financial results.
It allows the business to promptly respond to the competitors and other companies in the same industry.

Budgeting and Forecasting Services Provided by Whiz Consulting

Partner with us for the outsourcing of your business’ budgeting and forecasting services today and be assured of an accurate picture of your business in terms of performance, with help you do by preparing the following –

Operating Budgets

Quarterly, half-yearly or annually for the company and its departments, annual costs of the different projects are also included in the operating budget

Project Budgets

Budget for the entire life of a project alongside controlling and reporting individual costs for a project

Capital Budgets

Capital budget helps identify, assess, and plan for a company's capital needs, to meet its goals and objectives.

Cash Flow Forecasting

Cash flow forecasting helps in identifying budget variances and thus should be prepared along with the budget.

Why Choose Mehasa Consulting for Your Budgeting and Forecasting Services

Cost Reduction in comparison with other alternatives

Decade long experience

Team of highly qualified experts

Use of advanced budgeting & forecasting software

Providing a strategic business planning process

Customized service to industry specific needs

Frequently Asked Questions (FAQs)

1. What is a budgeting process?

Budgeting is a process carried out in order to plan for all financial transactions. It helps ascertain or consider any upcoming contingencies, thus allowing the business to plan funds ahead of time. Budgeting provides businesses with a yardstick that help in comparison of what was estimated with that of actual income & expenses.

2. Why is budgeting important?

Budgeting holds great value for business owners as it helps them to allocate their resources optimally. Budgeting acts as a yardstick for business financial performance but also help businesses to keep check of their funds, ensuring healthy cash flow. Budgeting is especially important for businesses that work on multiple projects. Working on multiple projects requires fund segregation to ensure that there will be no fund deficiency in a project that might affect another project.

3. What is forecasting in business?

Forecasting is the process of ascertaining the future financial outcome of your business. This is made possible with the help of historical data. A detailed analysis of historical data and current market conditions allows businesses to ascertain possible future outcomes.