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Budgeting system design and implementation

Goals and Challenges

  • Provide the company’s management, shareholders and investors with timely and reliable forecasts of the company’s financial and business activities to support management decision-making
  • Prepare the company’s budget compliant with international standards for variance analysis
  • Ensure transparency and enhance control over operations and use of company resources

What we do

We help to create an integrated budgeting system, including economic and financial planning methodology, preparation of the group’s consolidated budget, budgeting automation and support for the company’s staff during the process of implementing changes.

Our approach

Depending on the nature of a company’s business and its level of financial and management accounting and planning, the project can involve developing and implementing separate elements of the budgeting system, or developing an integrated solution.

Deloitte CIS consultants have experience in developing budgeting systems from carrying out diagnostics of the existing system and concept development to implementing automated solutions for data collection, processing and supporting the budgeting process. Our specialists have in-depth knowledge of Russian and international accounting and reporting standards, as well as extensive experience in helping with the implementation of specialized budgeting software, such as Hyperion, SAS and Cognos, for companies in various industries.

How your business will benefit

Establishing a methodological and organizational base for implementing automated budgeting brings the following advantages:

  • A set of documents with complete description of a company’s budgeting system, including budgeting policy, methodology and processes;
  • Implementation of an automated system to support budgeting and variance analysis (plan vs. actual);
  • Developing company’s staff knowledge and skills in budgeting in accordance with international standards, allowing the company to carry out budgeting using its internal resources.
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