Benefits Of Computer Software In Budgeting And Planning
In our institute before the end of the fiscal year different administrative units are asked to submit an annual budget and plan for the following year. The annual planning includes salaries and assets at the detail level for more accurate budgets. Thus, the annual budgeting and planning exercise is not a joke.
In my experience, budgeting and planning is a tedious work as it requires revisions for a number of times. Every time there are changes it involves the recollection of data and preparation of budget. Calculation is done all over again to reflect the revisions. The latest changes are then communicated to the different levels of management for final approval.
A computer software like spread sheets could facilitate the work if the size of the project is small. But for whole organization or business an advance program that could do top down or bottom up budgeting with the ability to make complex calculations, what-if scenarios in the budgeting stage will really make a difference. Specialize software also incorporates charting and other visual presentation of the data. Those are just a few of the things that I consider very beneficial in our annual budgeting and planning.
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Tuesday, June 24th, 2008 at 8:51 pm under 
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