A budget is prepared strategically by the organizations to execute the business plan. The business plan is prepared for one year as part of strategy execution process linking to long term plan. Budgeting involves preparing forecasts and multiple budgets for all profit centres, cost centres, and fund centres. The budgeting process includes strategic projections, annual projections, forecasting, operational budgets, capital budgets, strategic budgets, and projected financial statements.
fruiStrategy® Budgeting empowers organizations to perform budgeting in a collaborative way aligned to business planning. The solution is built on industry best practices and enables to solve the key problems of budgeting and business planning. The rolling forecast can be introduced in an integrated approach driven by system and very easy to operate. A comprehensive solution to cover all tasks of budgeting with integration of ERP to get the actuals and transfer the budgets.
A capital expenditure budget is a formal plan that states the amounts and timing of fixed asset purchases by an organization. This budget is part of the annual budget used by the firm, which is intended to organize activities for the upcoming year. Capital expenditures can involve a wide array of expenditures, including upgrades to existing assets, construction of new facilities, and equipment required for new hires. fruiStrategy helps organizations to identify and maintain capex items with comprehensive information.
The details of justification of capex item approvals, expenditure break down are maintained through capex module in fruiStrategy Budgeting.
Operating expenses are the costs that a company incurs for running its day-to-day operations. The Operational expenditure budgets can be maintained for all profit centres, cost centres, fund centres, through work break down structures. Typical operational budgets include revenue budget, purchase budget, manufacturing budget, logistics budget, HR budget, IT budget, Finance budget, and others. The break-down of budgetary amount is enabled in fruiStrategy to maintain detailed budgeting lines.
The driver-based budgeting modules can be created easily with user definable formulae in fruiStrategy Budgeting module. The user authorization capability will make sure of proper security for data updates. The integration with ERP system makes budget management very easy through automated data uploads and budget verifications.
Budgeted financial statements contain the expected financial results, position, and cash flows of a business. These budgeted financials include an income statement, balance sheet, and statement of cash flows. These statements are compiled from the annual budgeting model of a business. The management team can go through several iterations of the model to bring the financial statements into line with its expectations and what the business is financially and operationally capable of achieving.
Building a budget report is a great way to make accurate and informed financial decisions for a company. When budget projections are created, you're typically creating financial goals for the company to meet. Once a certain accounting period is completed, a financial report can be used to compare these milestones with the results to determine the success of the previous period.
Consulting for all steps in strategy execution which include strategy planning, strategy translation, strategy reviews, PMO processes, risk management, strategy refresh, personal scorecards and others.
Implementation of strategy execution process aligning with all best practices which include Execution Premium, OKR, Enterprise PMO, Enterprise Risk Management, Personal Scorecards, and Strategy Analysis tools.
Integration with all complementing solutions and data sources to have seamless flow of data to make data available on time to enable better decision making.
Software solution which is comprehensive, easy to implement, easy to maintain empowered by latest technologies which include AI/ML, process mining, mobility, API enabled.