Diagnostics of the Current Budget Management System

Project Goal:

• To evaluate how efficiently the current budget management system works;
• To improve the current budget management system.

Project Tasks:

• Analyze and systematize information on the current state of the Client company’s budget processes based on the “As-is” principle, i.e., the currently established budget management methodologies and practices;
• Identify additional (not yet implemented) Client requirements for the budgeting system and reporting related to budgeting processes;
• Formulate recommendations for improving or refining budget processes;
• Determine the scope of work and investment volumes for the automation of the budget process.

Project Stages:

• Familiarization with the Company:
  • Strategy;
  • Organizational structure;
  • Business processes;
  • Management accounting
• Analysis of the existing budget management system:
  • System components;
  • Financial structure;
  • Budget structure;
  • Types of budgets/reports;
  • Process formalization;
  • Process regulation.
• Preparation of the document “Report (Conclusion) on the Budget Management System”

Execution Methodology:

• Preparation of a preliminary list of requested documents from the Client and analysis of these documents;
• Preparation of a list of questions for the Client’s respondents and analysis of the response results;
• Analysis of the received information;
• Coordination of recommendations for improving the budget management system.

Project Result:

• An expert conclusion on the current budget management system;
• Recommendations for improving the current budget management system;
• A structured list of works to modify the existing information system (or selection and calculation of investment volumes for the automation of the budgeting system).

Value for the Client:

• A systemic view of the problems in the current budgeting system;
• A structured list of directions for improving the budget management system;
• Reduction of management risks during planning.