FIN.by develops budgeting systems of various operational detail, depending on the needs of a client. Our budgeting systems incorporate the time-proven budgeting methodologies (incremental, rolling, activity-based, zero-based budgeting) as well as the ‘best practice’ MS Excel technologies.
What is the result of a budgeting system development?
- Financial structure description. The fundamental document representing the client’s business as a system of financial responsibility centers: profit centers, investment centers, revenue and cost centers, ‘contribution’ centers. Centers interrelation and hierarchy is determined. Controllable and traceable costs are identified.
- Financial model. A system of tightly interrelated MS Excel files designed to process and consolidate information from various participants of the budgeting process. Input data are collected via standardized information packages. The model is developed with the focus on a) the avoidance of manual input doubling, and b) a comprehensive system of internal checks designed to highlight both technical and economic discrepancies.
- User’s manual. Describes the general structure of the budgeting system, the underlying methodologies and assumptions. All budget items calculation scheme is disclosed in detail. The system of internal checks is clarifies together with the respective troubleshooting section. The appropriate training is carried out with the client’s prospective users of the system.
- Budgetary regulations. The document which sets out the organizational component of the budgeting process, e.g. role descriptions, job positions involved, deadlines and forms of information submission.