Most budget assistants and executives are assigned the duty of minimising costs while delivering desirable wants to their consumers. They spend sleepless nights trying to build sustainable budgets for their companies for they are charged with any extra cost incurred due to poor planning.
Some companies have even employed more professionals in that area to ensure they can calculate the optimum cost required covering certain operations. But this alone is a cost. Employing more accountants to ensure less costs are incurred is even more costly. Other companies have also gone one step further to contract accounting firms to help them build budgets.
Supply chain remains one of the biggest issues in a company’s budget. They seem not to be able to minimise cost in this area efficiently. They go with the intuition a driver or other field operative gives them. This in most cases involves inflated costs and staff trying to manipulate them in their favour.
In addition, if you cut costs, it might detrimentally affect your team. There might be insufficient funds to deliver a commodity, poor living conditions due to low finances and might stimulate fraud.
How best and cost effectively can we make viable cost budgeting especially in the supply chain?
Microsoft Excel has all the tools you require as an accounting building a cost budget. All you need is the skills to apply this knowledge. That is not very difficult. With the right training, your finance team can do the least cost budget schedule that will neither damage your employees nor affect your business’ top-line.
Ms Excel has powerful models and tools that will build you the right optimisation and cost cutting solutions. All you need is the skills and everything will apply itself. Be the standout accountants in the industry and drive lots of demand will sustaining your production at the least possible cost.
With our #BeyondExcel Productivity Package Training, you can reduce production and transportation costs optimally while increasing the profitability of the limited resources your company might have. Sign up now and move one-step ahead of your competition.