Edgar R. Fiedler was an American economist who served as Assistant Secretary to the Treasury between the years 1971-75. Edgar published a series of essays during the late 70âs and early 80âs once pithily stating âIf you have to forecast, forecast oftenâ something that seems especially relevant as we navigate the current economic climate of […]
This article explores the popular Dynamics 365 Business Central cloud ERP system and how you can achieve advanced reporting and budgeting. After Microsoftâs highly anticipated release of Dynamics 365 Business Central (D365 BC) a few years ago companies evaluating the solution has, as expected, quickly zoomed in on reporting, budgeting and business intelligence (BI) capabilities. […]
One of the most significant changes to businesses during COVID-19 has been the large-scale work-from-home policies that almost all companies implemented. While some businesses may have partially or fully practiced this for a few years already, it has never in the history of the world been at this level. As many business owners are eager […]
At the core of every business strategy for products and services is to provide optimal management of the supply chain. A leak or inefficiency in the supply chain eats away at the organization’s bottom line. Supply chains are becoming more complex with more variations in products, distribution channels, and material planning. Accurate supply and demand […]
What is Financial Multi-Scenario Planning? With multi-scenario Planning, companies are able to analyze several potential business outcomes and forecast what overall performance would look like with each of these models. What would happen to sales? Employee headcount? Cash flow? The key drivers of each scenario are identified and modeled out to create a complete […]
Precise financial planning is an integral part of every business’s success. It also takes a substantial amount of time and energy from the business’s financial department, especially if the business is dealing with a volatile market. To meet the need for accurate and consistent budgeting, forecasting and financial analysis, large companies have formed specific financial […]
Forecasting is always an essential part of any business, and the workforce is typically the largest expense. Workforce planning includes salaries, commissions, benefits, taxes, retirement, and much more. On average, workforce expenses comprises over 30% of gross sales, but it can be over 50% depending on the industry.  Workforce forecasting should always be the top priority […]
Nobody likes a budget that is far off target, especially when it could result in a liquidity crisis. Luckily, most companies rarely have to experience such a stressful event. Although, in a turbulent economy where interest rates and stock indexes move up and down like yo-yos and news about corporate layoffs are part of daily […]
As we all struggle to adjust to our new reality of social distancing and general economic uncertainty, it seems as if our expectations for the future are changing day-by-day, if not hour-by-hour. It is hard to tell what next week will be like for businesses across the world, much less what next month will look […]
It is easy to predict the future when it is business as usual. However, if your business environment is suddenly impacted by something like the coronavirus, a delayed product launch or an unplanned acquisition, your corporate budget may become obsolete very quickly. How Do I Know it is Time To Replace the Budget with a […]