Ready to transform your static budget into a dynamic, strategic tool? In this webinar, Sabrina Parsons, CEO of Palo Alto Software, and Lauren McColme, Manager of Customer Engagement, walk you through a real-world example of how to convert a standard organizational budget into a living forecast using LivePlan. Discover how to move beyond cumbersome spreadsheets to gain clearer insights into your business's performance, profitability, and cash flow. Watch now to learn how to make better, more informed strategic decisions for your business.
What You'll Learn
This webinar is packed with practical tips and answers to the most common questions from our community. Here’s a look at what we cover:
Transition from Static Budgets to Dynamic Forecasts
Overcome Spreadsheet Limitations: See why traditional spreadsheets can be cumbersome, hard to update, and prone to errors, and learn how a dedicated forecasting tool provides a more accurate and manageable solution. Embrace Strategic Forecasting: Understand the LivePlan methodology of focusing on high-level, strategic financial buckets rather than getting lost in a detailed, line-by-line budget. Utilize "What-If" Scenarios: Learn how to create and manage multiple forecast scenarios (e.g., a "Pandemic Forecast") to adapt to changing economic conditions and make proactive business decisions.
Build a Comprehensive Financial Forecast
Structure Your Revenue Streams: Discover how to strategically categorize your revenue streams to gain meaningful insights, even if it means consolidating multiple products into one line or breaking one product into several lines. Simplify Expense and Cost Management: Learn how to budget for direct costs (COGS) as a percentage of revenue and how to group personnel and operating expenses for a clearer financial picture. Manage Cash Flow Effectively: See how to set starting balances, account for payment delays (accounts receivable), and add financing like loans to ensure your business remains cash-healthy.
Leverage Real-Time Data for Ongoing Management
Integrate with Accounting Software: Understand the power of connecting LivePlan to QuickBooks to automatically import actuals, eliminating manual data entry and reducing errors. Establish a Rhythm for Review: Get expert advice on how often to review your forecast—from weekly check-ins during uncertain times to monthly reviews during stable periods. Use the Dashboard for At-a-Glance Insights: Learn how to use the LivePlan dashboard to compare your performance against your forecast, previous periods, and industry benchmarks to stay on track and achieve your goals.
