Financial Planning is Crucial to Clarify Future Action
Financial planning includes budgeting, financial modeling and presentations to lenders and investors. The best financial plan can provide unlimited value if it is used for analysis and management of financial performance. It will improve decision making and help to clarify future planning.
- Forecasting is an ongoing, updated financial plan, used to make operating or growth/investment decisions.
- An effective financial plan will ensure that adequate resources are allocated to projects and will help to monitor the performances.
- Budget planning can be an annual exercise and is often required by banks and investors. An important part of the budget process is making sure it involves all departments and is completed on time.
- When introducing new products or services, it’s critical to be able to identify the financial impact, investment needs and cash impacts
THE NWCFO ADVANTAGE
- We can help you determine the impact on cash, working capital and profits if your business grows or shrinks by 15%, 20% 25% or 50%.
- We can help develop the communication plan to share your future needs to your financial institution or investors.
- We can review and improve your existing forecasting model or deliver a new one. The model can be used on an on-going basis, is flexible to modifications as assumptions change, and your staff can be trained to complete.