A detailed and realistic budget is one of the most important tools for guiding your business and providing the information necessary to operate within your means, handle upcoming challenges, and ultimately turn a profit.

Without a budget, it can be like shooting in the dark. A solid budget identifies currently available capital, estimates expenditures, and anticipates revenues. You should continually refer to your business’ budget as a way of measuring performance against expectations. A budget is a planning tool necessary for building a framework for your business and its finances. Combining past trends with realistic forecasts for the fiscal year, a budget provides a detailed view of assets, realistic revenue expectations, and how those balance against your anticipated expenses.

Budgets also help with setting goals and establishing priorities. A budget should detail where funding will come from to execute new strategies and how much revenue that can be generated by executing the strategies successfully. The line items that command the most funding or generate the most revenue typically are high-priority items, and that can serve as a good reminder of your overall strategy when making decisions.

An effective budget should break down revenue and anticipated expenses by month or by quarter, and depending on the size of your business, it should include separate budgets for each department. These departmental budgets also should be broken down by month or by quarter, and collectively they will come together to form your main budget.

Planning also should account for long-term needs. For example, if you anticipate a large expenditure one or two years down the road for computer upgrades, it’s a good idea to start budgeting for that expense in advance.

TRIFORCE would like to propose INFOR solutions to help you to consolidate all data in one place that the organizations can plan, budget and forecast with accuracy.

About d/EPM

Infor d/EPM is the solutions for financial services, can help funnel data from enterprise applications into Governance, Risk & Compliance, Performance Management, and Analytics, all pulling from a single and collects real-time set of data. Moreover, it’s automatically updated, when you make any change.

Benefits

Easy to access : Can access in anytime and anywhere via application on your smartphone, IPad or desktop
Multi-currency support
Real-time decision-making: you can see the plans in the same window, so you can understand the impact of a change before you act.
Infor d/EPM is designed to replace spreadsheet-based business
Better business insights–powerful business intelligence platform that is fast, agile, and modern–using in-memory grid database architecture, and providing web and mobile dashboard capabilities.
d/EPM is combines of Business Intelligence Analytics, Forecasting, Risk Assessment and Financial Performance Solution within this solution you will get an integrated suite. In this clip below from Infor will help you to better understanding.