Budget Calculation - How Software
Can Help
What is a Budget?
A budget is a cost statement that outlines or provides a
spending estimate for a particular project to be undertaken by a company.
How is a Budget Made?
A budget is made by looking at available company finances,
previous records of similar project costs and making a decision to either add,
remove or modify components based on current requirements, finances or policy.
How Useful is a Budget?
Very useful. In fact, creating a budget allows you to
control costs and plan your project within the limits of your
current policy. Starting a project without one would be like a non-swimmer
getting into a shark tank (sorry for the graphic illustration).
How Software Can Help Your
Budgeting Process:
1. Work Faster
Software allows you to work faster.
Budgeting or project costing software typically come with algorithms to
automatically calculate all the parameters you would otherwise have to
calculate by hand.
This saves time, and allows you to
focus on the goal of optimizing the budget without worrying about too many
calculations.
2. Improved Accuracy
Because you don't have to perform calculations by hand, your
results are more accurate. On the long run, this makes your projections more
reliable and improves the effectiveness of the budget.
3. Multi-tasking
It's very difficult to multi-task several budgets at once,
not to mention very time-consuming, and can also lead to loss of productivity
in other work areas in real time.
The use of software tools automates
this process, leaving the business person free to carry on with other work
duties.
4. Database Fuctionality
It may not always be easy to keep records of preliminary
budget estimates for comparison later. Imagine the confusion and fatigue caused
by keeping several folders full of printouts and comparing them one-by-one
manually?
This is solved with the database
functionality inherent in software solutions.
These databases allow the user
to store and recall calculations for analysis any time.
5. Report Generation
If preparing a budget
manually, you would have to calculate all parameters by hand and then proceed
to typeset and print out the result for presentation to management.
With software, you save time and
energy by simply clicking a button to generate a printable electronic
report.
Also the report can be
re-printed at any time owing to the native database functionality.
6. Simulation Capabilities
Simulation is very important in
business because it allows a business person to predict and measure the effects
of changing business processes or components of a production process/business
process.
This is useful when trying to
optimize a business model or budget. In some instances, growth simulations can
be carried out showing how an increase in number of staff (growth) can
influence production parameters, often leading to lower cost prices, higher
profits and better utilization of resources.
Software works!
However a major drawback for most
small businesses is the complexity of the software - from both design and
functional perspectives.
Most developers try to create
"one size fits all" solutions that can cater for all cadres of
enterprises.
At MDS, we develop solutions that
are tailored for small businesses. Our software solutions are EASY-TO-USE
and STRAIGHT-TO-THE-POINT: No bloatware or fancy bells and whistles.
Optimize 1.5, our flagship product (pictured at the top) is a FREE,
powerful (supports ALL functions listed above and more), lightweight
(only 1 Mb in size), and portable solution (NO installation required,
works from your flash drive or any storage device you have, and creates a local
database which you can manually carry anywhere) for businesses which is ideal
for:
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Learn more about Optimize 1.5 here -
http://www.montydimkpa.com/Business+Software
Watch our DETAILED YouTube
tutorial on how to use Optimize 1.5 here - http://youtu.be/zjDJrLiUU0Y
If you have additional inquires
regarding the product or for any other issue, contact MDS customer support on:
Skype: MDS_Customer_Support
Email/Google Talk: <info@montydimkpa.com>
Contact form: http://www.montydimkpa.com/contact+us
Learn more about MDS, including who
we are, and what we can do for you:
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