They need to make fast decisions on purchases, spending approvals, and more. Managers don’t have real-time updates on their budgets.
Business budgets live in Excel sheets, and are often disconnected from the day-to-day of spending processes, for a few reasons: Here's the reality for most finance teams. But making the financial plan a reality is still a major struggle. This often includes analyzing actual financial results against the budget plan, and optimizing for future allocation based on the results.Įvery finance team puts lots of effort at the end of the year to prepare for the next period, gathering departmental input to prepare budgets. In this post, we'll break down the concrete ways you can better manage budgetary control in your finance teams.īudgetary control is the management of business funds, income, and costs to run company operations effectively.
Good news: this dream can become reality with Spendesk Budgets. It’s all over the place, and the whole company wastes energy, time & money just to spend their budgets, respect the rules, and meet business objectives.īut what if the finance team and budget owners could see their teams' spend in real time and adjust approvals accordingly? What if finance & budget owners could always be on the same page, with real-time budget updates? They generally feel weaponless, juggling Excel files, data pulled by finance, shared credit cards, and supplier invoices. Not only for finance teams, but also for managers. Tracking and controlling budgets is tough work.
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