After the medium/long-term business plan is prepared, the next step is to break down the first year of the plan [the immediate year], into budgets.
While plans give the broad direction, budgets enable to convert these directions into actions and help in controlling their outcomes. Therefore budgets are detailed, measurable & monitorable outcomes and would include actions contemplated for all the business functions. These could be market actions, recruitment actions, funding actions, monthly budgets, etc..,
Budgets also help in fixing responsibility and time frames for the performance. Budget is a key management tool to drive, monitor & control performance.
Vantage facilitates and enables businesses to prepare detailed and actionable budgets to enable growth & superior performance.