Assessment and Recommendations for Company X's Budgeting Process: Evaluating Current Practices and Identifying Further Improvements
Klopp, Ranar (2023)
2023
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2023112331322
https://urn.fi/URN:NBN:fi:amk-2023112331322
Tiivistelmä
This bachelor's thesis focuses on enhancing budgeting processes within Company X, an SME specializing in healthcare software solutions for B2B clients globally. The primary objective is to offer practical recommendations for improving the Company X's budgeting process.
The study comprises two main sections: an exploration of the current budgeting processes within Company X, highlighting their strengths and weaknesses, and an examination of the company's commitment to continuous improvement, including insights into future implementa-tions. The methodology adopted for this research involved a combination of qualitative inter-views with key decision-makers and stakeholders, as well as thematic and empirical data analy-sis to identify areas of potential improvement.
The findings revealed several areas within Company X's budgeting processes that could benefit from improvement. These recommendations, encompass a range of budgeting methodologies, tools, and mindsets. The suggested improvements are not prioritized, as each holds potential to enhance the budgeting process. Some recommendations can be readily implemented, providing quicker results, while others may require more noteworthy changes to the company's overall strategy, requiring time and additional resources.
This thesis also has broader relevance beyond Company X, offering valuable insights for other SMEs in the healthcare software industry. Decision-makers in similar organizations can draw upon this research to identify avenues for improving their budgeting processes, provided they have the requised resources and commitment.
The study demonstrates a commitment to personal and professional growth, as it magnifies the understanding of budgeting processes and equips the author to make meaningful contributions to Company X's budgeting process and the broader software sector. Just as the financial world continually evolves, so too does the author's path toward ongoing learning and success.
The study comprises two main sections: an exploration of the current budgeting processes within Company X, highlighting their strengths and weaknesses, and an examination of the company's commitment to continuous improvement, including insights into future implementa-tions. The methodology adopted for this research involved a combination of qualitative inter-views with key decision-makers and stakeholders, as well as thematic and empirical data analy-sis to identify areas of potential improvement.
The findings revealed several areas within Company X's budgeting processes that could benefit from improvement. These recommendations, encompass a range of budgeting methodologies, tools, and mindsets. The suggested improvements are not prioritized, as each holds potential to enhance the budgeting process. Some recommendations can be readily implemented, providing quicker results, while others may require more noteworthy changes to the company's overall strategy, requiring time and additional resources.
This thesis also has broader relevance beyond Company X, offering valuable insights for other SMEs in the healthcare software industry. Decision-makers in similar organizations can draw upon this research to identify avenues for improving their budgeting processes, provided they have the requised resources and commitment.
The study demonstrates a commitment to personal and professional growth, as it magnifies the understanding of budgeting processes and equips the author to make meaningful contributions to Company X's budgeting process and the broader software sector. Just as the financial world continually evolves, so too does the author's path toward ongoing learning and success.