You Can Throw Those 2020 Budgets Out the Window
No matter who you are and what you do, chances are good that the 2020 budget you worked so hard on is pretty worthless right now. For better or worse, our world has changed and nobody knows for sure what that is going to mean long term. Will we quickly get back to normal or will it be a slow process with a lot of challenges along the way?
What we all need, of course, is a crystal ball. Unfortunately, we don’t have one. As such, we have to make assumptions and best guesses as we plan our future options. Regardless of whether we’ve done budgets in the past or not, we all need rethink our strategies and plans and run multiple what-if forecasts based on different scenarios, such as:
- Best Case
- Worst Case
- Change our Entire Business Model Case
Putting these forecasts together, though, is easier said than done. For each scenario, you not only need to forecast your profit and loss, you need to forecast your balance sheet and cash flow. Chances are you are going to need some help. You’re going to need the right tools and you need advice. We can help you with that.
For the right tool, we recommend Solver. Excel, which is what most people turn to, simply doesn’t hack it when it comes to running multiple scenarios with balance sheets and cash flow. Solver, as you can see in this video, allows you to quickly and reliably model your scenarios and see the impact of your various assumptions and what-ifs.
For the right advice, our team of accounting and software specialists can either train you on the tool or help you develop the models. Whatever is easiest for you.
Solver works seamlessly with Dynamics GP, Dynamics 365 Business Central and Sage Intacct as well as other major accounting software solutions. For our Dynamics GP clients, in particular, we have partnered with Solver on a Special Offer. Specail offer ends on May 31st. For more information, please see the attached document titled “Coronavirus Broke the Budget” or contact James Meyer at email@example.com or Tim Bograkos at firstname.lastname@example.org