Why should I invest in a forecasting tool?
Forecasts are often crucial for anyone looking to run an efficient and successful business, regardless of the industry in which the company operates. Thanks to forecasts, it is possible to make decisions about purchases, hiring, and investments, and be prepared for various types of events and scenarios.
A forecasting tool provides an assumption of what the future may look like, based on historical data, patterns, trends, and competition in your field.
Which forecasting tool is best for your business depends on your specific needs. A good starting point is to assess your needs before comparing forecasting tools. How large is your company? What industry do you operate in? What are your goals for the business?
At BusinessWith, we have extensive experience supporting companies in choosing the right forecasting tool. With our comparison service, you can get an overview of the options available on the market.
How do budget forecasting tools work?
Many choose to invest in budget forecasting tools. Excel and Sheets are beloved by many entrepreneurs, and it is common to use homemade or modified professional templates to keep track of the current situation as well as to predict the future. However, the market offers many other budget forecasting tools.
Many programs for managing budget processes are cloud-based and seamlessly integrate across different devices and users. Budget forecasts are updated in real-time, making it easy to follow the flow.
Whether your company is small or large, it is wise to invest in a forecasting tool. It helps you and your team plan for the future. BusinessWith helps you choose the best forecasting tool for your needs. Feel free to filter and compare right away.
Quick Guide
List of 33 different Budget And Forecasting Software
Quick Guide
What can I expect from a budget and forecasting tool?
A budget and forecasting tool is often comprehensive and can offer you and your company a lot. Some of the features you probably already have in Excel files today, while others you may not have even considered needing. Here, we summarize some of the components found in a modern budget and forecasting tool. Many of the tools on the market have been around for a while and have evolved alongside companies' demands and needs. The foundation has often been to clarify the process of budgeting, finance, and planning, which is why the tools are often good at budgeting, forecasting, and tracking key performance indicators (KPIs). These KPIs should be easy to follow, as they compare a company against the rest of the market and help the organization or business achieve its goals.
Depending on the size of your company or organization, you should consider whether you want to divide forecasts into different groups or categories. Many systems excel at this.
A budget and forecasting tool naturally does not do all the work, but it helps you work with goal management if you wish.
Reports, charts, and analyses are essential elements, and it is important to take the time to follow up on these so that your company has the opportunity to learn from its mistakes and achieve future success.
The tools often deliver significantly more than what we have mentioned here, such as commenting features, benchmarking, and integrations with other systems. It is up to you to choose a budget and forecasting tool that includes as much as possible of everything you need and can utilize. Clarify how many people may need to use the system and what needs the various roles have. After that, you can filter in our system guide to find out which tool suits you best. Feel free to reach out to us at BusinessWith if you have any questions.
Description of product features
Benchmarking
Comment
Dashboards
Invoice information
Key figures analysis
Modelling
Multiannual planning
Rolling forecast
Work process control
