If You Fail to Plan, You Plan to Fail

Strategic planning involves long-term thinking for organizations, determining the primary goals for the business over the next year or so. Instead of focusing on a single product or business segment, this type of planning looks at an entire organization and its progress toward a goal. Momentum helps with this planning process offering strategic planning services for small businesses, healthcare organizations and government entities alike.

BOSS solutions helps organizations to optimize and synchronize their strategic and operational planning processes i.e. from developing a long-range strategic plan, modelling different scenarios and strategic initiatives, to developing the annual plan. It is a complete solution framework for modelling the uncertainty in the business.

Leverage benefits that come from effective strategic planning such as:

• Increased organizational sustainability and continuity
• Clarity about leadership misalignments that may be hurting the organization
• Growth from clearly identified market opportunities
• Informed decision-making based on analytics
• The ability to pinpoint ineffective processes and tactics and reengineer how things get done.

These Strategic Planning activities enhanced by the high-quality resources and best-practice solutions BOSS Solutions brings to the table. With personalized, hands-on approaches, BOSS Solutions guarantees unique solutions for every business, eliciting the best results possible in both the short and long-term.

Start your journey with one of the best strategic planning firms in India! Contact BOSS Solutions today and speak with one of our representatives to discover the various tasks BOSS Solutions strategic planning solutions can help you achieve!

Creating and implementing a sound planning, budgeting and forecasting process helps organizations establish more accurate financial report and analytics — potentially leading to more accurate forecasting and ultimately revenue growth. Its importance is even more relevant in today’s business environment where disruptive competitors are entering even the most tradition-bound industries.

When companies embrace data and analytics in conjunction with well-established planning and forecasting best practices, they enhance strategic decision making and can be rewarded with more accurate plans and more timely forecasts. Overall, these tools and practices can save time, reduce errors, promote collaboration and foster a more disciplined management culture that delivers a true competitive advantage.

Specifically, companies are able to:

• Quickly update plans and forecasts in response to new threats and opportunities, identifying risk areas early enough to rectify issues before they are serious
• Identify and analyze the impact of changes as they occur
• Strengthen the links between operational and financial plans
• Better plan and predict cash flows
• Improve communication and collaboration among plan contributors
•  

Our planning, budgeting and forecasting solution empowers operational planners to plan what they want, while still offering the transparency and control required for corporate finance. The solution strikes an ideal balance between providing best-practice planning while maintaining the ability to be highly configured for planning processes that are unique. The solution covers chapters such as

• Financial Statement Planning
• Revenue Planning
• Operating Expense Planning
• Workforce Planning
• Projects Financial Planning

Capital Expense Planning

Financial consolidation is the process of aggregating and consolidating trial balance data contained in the various general ledgers of subsidiaries to create financial reports. These include things like income statements, balance sheets, and cash flow. The process requires adherence to statutory rules and guidelines (including IFRS and U.S. GAAP) and incorporates various complex processes such as currency translation, intercompany eliminations, journal entry adjustments, and partial ownership considerations.  

Financial consolidation is an essential procedure in most large organizations, but one that’s often rife with complexity and hindered by disparate data sources and outdated processes. That’s why organizations today are beginning to change their approach. Specifically, companies are able to:

In the largest organizations especially, financial consolidation can be a complicated and sprawling affair. At its most simple level, though, there are six key steps.

• Data collection: Finance departments have to collect trial balance data from subsidiaries and divisions, as well as assets, liabilities, equity, revenue, and expense accounts. This data lives in various general ledgers with different charts of accounts and a variety of currencies. Other data formats are also used in different countries to meet multiple reporting requirements.
• Conversion: Due to the various data, currency conversion is crucial to align all local currencies to the group currency.
• Intercompany reconciliation: One branch acts as a seller to the other, possibly in multiple locations, when products move from one branch to another.
• Adjustments: Manual adjustments are standard in accounting to allow business users to adjust or correct something due to last-minute changes. As a manual process, this needs to have controls in place to prevent human error.
• Eliminations: Besides manual adjustments, there are automated adjustments or journals which follow predefined rules. This automation clears up possible duplications on intercompany investments, equity, and dividends, so figures are consolidated instead of aggregated.

Reporting: Finance departments have to report results to both internal and external stakeholders. These reporting requirements will typically vary by region.

Used by top organizations worldwide, Corporater Balanced Scorecard software enables you to automate your balanced scorecard, track and manage performance metrics across your organization, use strategy maps to communicate your strategic goals and objectives, link your corporate strategy with strategic initiatives and KPIs, promote a culture of performance, and drive strategy execution with measurable business outcomes.

Scorecards can be an extremely effective tool for helping organizations define, monitor and communicate progress toward strategic objectives

Strategy and KPI Management implementation consists of multiple steps:

1. Assess the company’s organizational structure
2. Identify strategic themes
3. Define perspectives and strategic objectives
4. Develop a strategy map
5. Derive performance metrics
6. Craft and prioritize strategic initiatives
7. Automate and communicate
8. Cascade the balanced scorecard throughout the organization
9. Collect data, evaluate and revise

Corporate Strategy & KPI Management System allows:

• Utilize a single, easy to use and web based system to access and manage strategy automation, KPI Scorecard solution.
• Automate and apply common simplified, streamlined core business processes
• Provide real time visibility across organization, division/entity level

Provide the reporting and visualization capability to business users to analyze the data in better manner to take the right decision at the right time.

Incentive Compensation Management (ICM) is a process of designing, administering, and analyzing variable pay programs for employees in order to align their performance with company objectives. ICM programs typically use financial rewards such as bonuses, commissions, and other incentives to motivate employees to achieve specific goals and objectives.

The goal of ICM is to create a transparent and equitable compensation plan that motivates employees to achieve their goals, while also supporting the overall goals of the organization. By providing incentives for specific behaviors or outcomes, companies can drive increased productivity, sales, and revenue growth.

ICM programs often involve complex calculations, data analysis, and technology tools to effectively design and administer compensation plans. These plans must be regularly evaluated to ensure that they are meeting the needs of the business and employees, and adjusted accordingly.

Key components of ICM include defining performance metrics, setting goals, determining payout structures, and creating communication plans to ensure employees understand how their performance impacts their compensation. Additionally, effective ICM programs require ongoing monitoring, analysis, and optimization to ensure that they remain aligned with the goals of the business and provide a positive return on investment.

At BOSS Solutions, we offer comprehensive data warehouse and business intelligence services to help businesses make better decisions. Our services are designed to provide businesses with the data they need to gain insights and make informed decisions.

Our data warehouse services are designed to help businesses centralize their data and make it easier to access and analyze. We can help businesses to integrate data from a variety of sources, including transactional databases, flat files, and external data sources. Our data warehouse solutions are designed to be flexible and scalable, so businesses can easily add new data sources as their needs change.

Our business intelligence services are designed to help businesses analyze and visualize their data. We can help businesses to extract insights from their data and create custom reports and dashboards. Our data visualization tools are designed to be easy to use and provide businesses with the ability to explore their data in a variety of ways.

Our services include:

• Data modeling and integration
• Data warehouse design and implementation
• Business intelligence reporting and analysis
• Data visualization and dashboard development

We work closely with businesses to understand their unique needs and provide customized solutions that meet their specific requirements. Our team of experts has extensive experience in data warehouse and business intelligence solutions and can help businesses to get the most out of their data.

To learn more about our data warehouse and business intelligence services, contact us today.

At Boss Solutions, we offer comprehensive GRC (Governance, Risk, and Compliance) services to help businesses manage risk, ensure compliance, and maintain good governance practices. Our services are designed to help businesses minimize risk and optimize their operations.

Our GRC services include:

1. Governance Services: Our governance services are designed to help businesses establish and maintain effective governance practices. We can help businesses develop policies and procedures, establish board oversight, and ensure compliance with regulations.

2. Risk Management Services: Our risk management services are designed to help businesses identify, assess, and mitigate risk. We can help businesses develop risk management frameworks, conduct risk assessments, and establish risk mitigation plans.

3. Compliance Services: Our compliance services are designed to help businesses comply with regulations and standards. We can help businesses establish compliance frameworks, conduct compliance assessments, and develop compliance programs.

4. IT Governance and Security Services: Our IT governance and security services are designed to help businesses protect their information assets. We can help businesses establish IT governance frameworks, develop security policies and procedures, and conduct security assessments.

We work closely with businesses to understand their unique needs and provide customized solutions that meet their specific requirements. Our team of experts has extensive experience in GRC solutions and can help businesses to get the most out of their GRC programs.

To learn more about our GRC services, contact us today.