Development of Budgeting Management System Methodology

Project Goal

Creation of tools for planning the company’s financial, economic activities, and liquidity, based on systematic forecasting of the company’s future development through budgeting.

Main Tasks:

• Building company budgets in accordance with both the Shareholder’s requirements and the company’s internal requirements;
• Organizing the company’s effective management process;
• Ensuring the connection between strategy and the company’s operational activities;
• Maximizing the efficient use of all company resources;
• Cost optimization;
• Ensuring coordination, cooperation, and communication of the activities of various company departments;
• Communicating plans to department heads;
• Controlling and evaluating local performance by comparing actual and planned data;
• Identifying cash resource requirements and optimizing financial flows.

Project Stages:

• Company Familiarization:
  • Strategy;
  • Organizational structure;
  • Business processes;
  • Management accounting.
• Development of Budgeting Management System Methodology:
  • System components (processes);
  • Process diagrams;
  • Financial structure;
  • Budget structure;
  • Types and formats of budgets/reports;
  • Financial budget consolidation methodology;
  • Process formalization;
  • Process regulation.
• Compilation of the “Budget Management System Regulation” document.

Execution Methodology:

• Drafting an initial list of requested documents from the Customer and analyzing them;
• Compiling a list of questions for the Customer’s respondents and analyzing response results;
• Conducting interviews with the Customer’s managers and key employees;
• Analyzing the received information;
• Coordinating and approving the developed documents on the budgeting management methodology.

Project Result:

• A formalized budgeting management methodology corresponding to the current and prospective development tasks of the company;
• A structured list of works and investment volumes for automating the budgeting management system.

Value for the Customer:

• Effective company management;
• Increased predictability of financial flows and financial results of the company;
• Efficient use of company resources;
• Control and evaluation of personnel performance;
• Enhancement of the company’s investment attractiveness.