Currently, more than 90% of businesses carry out these processes with office automation tools, without traceability of changes and without the possibility of managing them collaboratively and transversally across the company. And 83% of those surveyed take the previous year’s budget as a basis for preparing the budget for the year (thus transferring inefficiencies to the following year).

They recognize major limitations in updating it in the face of changes in the variables that impact their financial statements, and difficulties in detecting and interpreting deviations. All this makes it difficult to anticipate risks and opportunities and to make decisions.

Phases of the definition of the Financial Plan in a Financial Planning and Analysis Solution:

In order to have a detailed monitoring of the information reaching different degrees of detail: by customer, by service, taking into account the delegation of each company; by contract, according to the activities associated with each service, and breaking down the different concepts of income and expenses to quickly assess the margins of the business. The first thing to do is to identify 2 processes.

Management Budget: sales, cost, investments, expenses, etc.
Financial Budget: profit and loss, balance sheets, cash flow, etc.

And to do this exercise and the subsequent ones, you have to rely on professionals and specialists in these solutions like us.

Optimization and management of financial processes

It is recognized by the most prestigious analysts that well-organized companies obtain better results. These firms base their processes and financial planning on a solid business architecture, which allows them to improve the value chain and the life cycle of operations.

They are companies that are committed to continuous improvement and management by indicators. However, according to a recent study, only 15% of companies operate by optimized processes, quantitatively measured and with defined performance objectives.

This scenario affects all areas and departments of organizations, especially finance departments, where the management of financial processes represents a great opportunity to generate additional direct value to the business.

At Cedar we accompany our clients in the definition and implementation of Operational Excellence models, regardless of the maturity cycle in which they are; and finance departments, in particular, to identify and optimize their financial processes through methodology, experience and specific business solutions.