Finance and Accountancy Briefing
Financial Planning, Budgeting and Forecasting for the SME
The challenges of Small and Medium Sized Enterprises (SMEs), defined as organisations with under $500 million in annual revenue, are no different from their larger counterparts when seeking to optimise working capital and planning for future business needs. These needs stem not just from various departments in a company, but at all levels. Whether it is for sales marketing, Research and Development (R&D), manufacturing, or IT, the demand for budgets must be effectively prioritised by financial executives and allocated carefully to ensure maximum business benefits are yielded.
As with large enterprises, smaller companies are looking to improve their Financial Planning, Budgeting and Forecasting (FPBF) by leveraging tools and processes that enable visibility into current cash positions.
This Analyst Insight, based on research conducted between January and March of 2012, uncovers the strategies and capabilities among 118 SMEs used to improve their planning, budgeting and forecasting initiatives.
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