Let’s face it. Validating and rationalising budgets is a process that involves many stakeholders, and is often a sensitive issue within brand companies. If you were tasked with taking the lead in a budgeting process, the likelihood of taking last year’s budgets while making a few tweaks here and there is high. Such an approach, however, won’t be optimal for the brand and product portfolio – navigating a landscape of ROI, short term vs long term, the need for market innovations, the need to sell manufactured goods, and reacting to competitor’s activities would all become too complex for a zero-based approach, which won’t satisfy various stakeholders.
We have developed the Pointlogic Bizpoint software solution as a customisable solution for your budgeting questions. The software will support a process where you, together with other stakeholders, identify and collect relevant information for the products and markets before turning that information into budgeting scenarios to evaluate and choose from. What is the expected market growth? How are demographics changing? What is the overall pricing trend of products? What is the strategic long-term importance of a market or product for a company? What is the impact of marketing spending?