Every company is constantly looking for the ways to improve the efficiency of its activities:
- to increase the sales turnover due to the effective marketing and promotion,
- to increase sales profitability with the help of a reasonable price policy,
- to attract additional clients,
- to enhance incoming financial currents with massive advertisement.
All the above are reliable ways to improve business indicators, that have proven to be effective in the best international and local companies!
What is to be done when all the resources are utilized, but the efficiency aims have not yet been achieved?
The answer to this question is a short but succinct word – budgeting! Complex organization of budgeting in a company, comprehensive accounting and total control over all the operational expenses are the key, that will let your company open the door leading to market success and prosperity.
A budgeting system, present among the First BIT’s “BIT.FINANCE” products, will help you with this.
First Bit’s software solutions, designed for budgeting and cost control, have proven their efficiency and have been implemented in more than 2500 companies already!
More than 2500 companies use BIT.FINANCE
Financial planning and budgeting in a company: organizational options
What are the first steps that should be taken to increase business results? Without any doubt, this is the organization of budgeting in a company.
Budgeting means the process of developing and organizing budgets of expenses at an enterprise. The role of budgeting in a company is in fact very important and is not limited to cost accounting. The budgeting system is an effective instrument of control and, what is more important, the reduction of the company’s expenses!
At the same time, there is a range of signals, that show not only the practicability, but the necessity to organize budgeting.
Budgeting is necessary, when:
- The enterprise is getting bigger, and its commercial activities are enhancing.
The larger the enterprise, the more the number of commercial operations and business transactions is, the higher are the operational expenses. And to control all the expenses, financial planning and budgeting are necessary.
- The expenses are constantly increasing and are not under the control of the company any more.
In this situation there is a critical need for budgeting and management accounting, that will not only help to locate the sources of excessive expenditures, but also to take them under strict control.
- The enterprise has a complicated structure, wide assortment and is engaged in several types of activities.
In this situation, it is necessary to distinguish separate business units and commercial centers in the enterprise’s structure, to organize accounting and cost control in their sources. In such a situation, budget and budgeting will not only allow to locate the sources of expenditures, but will also provide an opportunity to evaluate the effectiveness of the activities of every responsibility center!
BIT.FINANCE budgeting system: the best software products in the service of business
To solve the most pressing business problems, First BIT Company has developed a software solution for automation of a budgeting system in a company.
The implementation of BIT.FINANCE software will allow you:
- to build a comprehensive hierarchical management accounting system, beginning from the bottom operations;
- to have an effective instrument for financial planning, budgeting and cost control;
- to always see the full picture of the expenses in terms of separate items and their sources;
- to increase the business efficiency indicators due to the reduction of needless operational expenses.
