Tie it to business outcomes
Behind every pain point is a business driver or need. A need for real-time access to the ERP is due to the company’s aggressive sales goals, or adding an immutable backup appliance (such as Ootbi by Object First) might satisfy the growing concern for cybersecurity resilience. Every decision is motivated by a hope of gain or a fear of loss – use that to your advantage when you create your justification for your budgetary items.
Leverage your vendor relationships
If you need help preparing to sell up the management chain for new initiatives, lean on your vendor to help – they position and sell all the time. Your reps can also help you make the business case in meetings, or at least prepare you so you can do it yourself. They can also provide you critical information about supply chain and shipping delays, which could play into your overall budgetary plan, the timing of accounting processes, and other business functions.
Trust me, your vendor reps would be delighted to help you advocate for your new initiative.
Make a “just in case” list
Sometimes businesses find themselves with extra cash at the end of the year and want to spend it in order to avoid taxes, or they have a “use it or lose it” policy. Have a list together of additional initiatives (but don’t forget about the timeline of cutting POs or rules on receiving and your budget year) should this fortuitous event arise for you.
We have decades if experience helping businesses create their budgets, and we can help you get it approved. Contact us using the information below to learn about our proven processes, plan ahead, and feel confident – not confused.