Corporate Budgeting
Corporate budgeting employs a bottom up approach to calculating medium to long term budgets. These budgets could be volume drivers, but are typically sales and Labour costs.
Historical versions of these drivers are collected at the bottom of the hierarchy. Predictive algorithms are used to project forward the values of those drivers for the future. Extra information is used in those algorithms, such as week type extraordinary circumstances to get the most accurate forward visibility.
The predicted values for budgets are then consolidated up the organisation hierarchy to the top. Using organisation standard metrics the demand for work, labour budgets, and other KPIs are then calculated at the bottom of the hierarchy and consolidated up.
Corporate head office is provided with a "steering wheel" to be able to apply controlled input to the resulting KPIs. These changes will then affect the input drivers which may need to be trickled back down the organisational hierarchy and be accepted by the line managers. WorkPlace Systems' workforce management software provide the ability to model all of these changes in different scenarios.
When the budget figures are agreed, then the right budget scenario can be locked for the organisational hierarchy for that period and transferred to the Labour Forecasting Module.
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Industry Ranges
Retail | Hospitality | Contract Labour & Labour Hire | Emergency Ser. | Utilities | Transport | Healthcare | Government