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October 19, 2020

Downstream Impact of Having a Robust Budget

Budget Planning

While a high-level budgeting process can provide the same output of the Company’s collective goal, the added value of a robust budgeting exercise will prove true through insightful variance analysis throughout the year. The ability to understand the why behind changes in performance will enable your team to course-correct where necessary.

Does your existing budgeting process provide the insights you need to manage performance and drive increased profitability throughout the year?

  • Was the revenue miss driven by a decrease in volume or pricing pressure on your offerings?
  • Revenue hit, but Gross Margin still missed. Is this due to product/service mix in the given month, or is there a concern with margin erosion?
  • Labor expense is down. Were there open positions, or did you make more advantageous hires?
  • Subscription fees are up. Did the average cost to support an employee increase, or do you have more employees to support than planned?

CBIZ CMF’s Strategic FP&A team helps companies make the most of their budgeting process to optimize performance and provide strategic flexibility. Our team utilizes key performance indicators to generate driver-based budgeting models and design a cross-functional budgeting process to incorporate the appropriate level of detail for stakeholders. The budgeting process is tailored to your business to enhance insight and visibility into the whys of your Company’s performance.

For more information, please contact CBIZ CMF’s Managing Director, Kyle Ludwig.

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