Financial Forecasting vs Budgeting Explained

Financial Forecasting is essential to running a business. Once you set your targets and goals in your budgeting, you can use your forecast you to see how well you are going to do with hitting those targets.

When done right, financial forecasting enables leaders to look at the possibilities against the realities —and get the right insights to make estimates about the future of the business—plus make major financial decisions regarding things like staffing, investments, and more.

In this video, we explore the ins and outs of financial forecasting, what feeds a good financial forecast, and how to create a culture where people know the right questions to ask to get the forecast accuracy you need.