How to Use Your Budget for Accurate Forecasting — LivePlan Webinar
Use your business’s budget to create a LivePlan Forecast for better strategy and performance insights
Most businesses are familiar with the process of putting a budget together. Whether it’s annual or quarterly, formal or informal, simple or complex, a budget helps a business set detailed guidelines for its spending.
While it may sometimes seem like budgeting and forecasting are terms that are used interchangeably, there are key differences that make the process of forecasting beneficial, even if your business already has a budget in place. While a static budget helps you know if your spending is on track, a forecast is a living tool that allows you to continuously view and adjust the strategic road map for your high-level business goals.
This Webinar will walk you through how to develop a forecast in LivePlan, starting with your business’s budget. We will also cover how to analyze your budget to determine:
- The key, high-level revenue streams you need to forecast your big-picture goals
- The major categories of expenses you need to make good spending predictions
- Other factors that may be affecting your profitability and cash flow (such as accounts payable/receivable, and any additional financing you may have or want to pursue)
By the end of the webinar, you’ll have all of the information you need to translate your static budget into a living, strategic forecast for better business insights and decision-making.