Budgeting and Forcasting
Planning, Budgeting, and Forecasting - the three important aspects of Pike's Integrated Performance Management framework. The strategy that Pike Solution's is the biggest framework for the effective translated into the long-term plans, mid-term budgets and also short-term forecasts. That in order to make sure that strategic objectives & financial targets are reached.
Budgeting and Forecasting are necessary to effectively manage the business finances.
Good financial and forecasting skills can help your control the financial areas of the business. Pike's Budgeting and Forecasting help the companies to forecast future revenues and expenses of a business. Identifies the opportunities for cost cutting, can determine a break-even point. It will be more helpful in finding opportunities to be more productive and efficient.
Utilizing the realistic budget to forecast your spending for the year can really help you with your long-term financial planning. You can then make realistic assumptions about your annual income and expense and plan for long-term financial goals like starting your own business, buying an investment or recreation property or retiring.
Pike's forecasting can help you:
- To make strategic decisions like when to promote a new promote a new product
- More helpful in calculating how profitable the blasting time must be for the business to survive collapse