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Why is business forecasting important?

A critical part of your professional planning actions, business forecasting involves detailed estimation about the costs and planning involved with running your business.
 
Often executed by outside professionals or a number of highly skilled and experienced internal team members, business forecasting allows you to create validated estimates to guide your future work. This normally involves significant emphasis on economic wellbeing and is conducted on an annual basis – allowing you a real-time review of the genuine threats facing your company.
 
Predicting these in advance through dedicated financial planning software allows you to remain reactive to change and take advantage of the opportunities the sector presents.
 

Why is a business development plan important?

Correct forecasting can play a vital role in your overall business plan. Operating without a business plan, your company can be left with a poorly defined set of end goals.
 
Chief among these responsibilities is the need to assess internal and external threats to your company through risk management. This is a highly exacting process and often requires multiple revisions to get right – something that many companies can rarely afford. Failing to conduct processes from SWOT analyses to end-to-end sectoral reviews can leave your company vulnerable
 
Creating one requires external expertise and finding an experienced provider can help add value to your work when it is truly needed most.
 

What is Liveplan?

By choosing a software platform, this enables you to work more efficiently and accurately. When it comes to sharing insight, carrying out detailed research, and working efficiently, Liveplan is truly hard to beat. The software platform allows you to keep all your key business information in one centralised location, empowering all authorised members of your team to safely review it. This allows you to set out an appropriate yearly budget, review outgoings and earnings, and accurately – and correctly -forecast for the future.
 
But, it’s important to remember that business planning tools are only as useful as the professionals using them.
 
Choosing a seasoned provider like James Stanley & Co can provide the winning edge that you need to get the most out of your platform. This allows you to get the very best out of the service with a company that possesses many years’ professional experience, with our team are on hand to ensure that you are able to formulate a regularly updated strategic business plan when required.
 

What next?

 
If you want to learn more about how Liveplan can help your business, you can review the full list of features and solutions to see if there are a range of options that suit your business needs.
 
If you want to get the most out of your platform, our team at James Stanley & Co. are happy to help with your deployment and ensure that your system is fully fit for purpose and walk you through how to make a business plan that truly works for you. If you want to learn more about how we can help, please do not hesitate to contact us directly and let us know exactly what you need.