How to make an approved budget work?


On January 28, 2020, SCHNEIDER GROUP held a business breakfast on the topic “How to make an approved budget work?”

Budgeting is one of the main tools for managing a company. The budget for the next year is already approved in September, however, any company may encounter force majeure circumstances requiring a review of the approved budget.

During the event, the SCHNEIDER GROUP’s experts spoke in detail about the main reasons for the “non-working” budget, how to set up processes properly, what should be the focus during planning, what automation tools need to be implemented, and how to use them effectively.

Ekaterina Smirnova, Associate Finance Director, SCHNEIDER GROUP, highlighted frequent mistakes during budgeting, their reasons, and proper decisions when a budget has already been formed.

Daria Shelkova, Financial Director, SCHNEIDER GROUP, continued the main topic of the event with the budget management and building an effective process throughout the year.

Marina Lytkina, Head of ERP, SCHNEIDER GROUP, explained the need for budget process automation and presented the functionality of budgeting tools based on 1C: Enterprise