Budgeting and Financial Performance Tool for Analysing and Accelerating Growth, Case Company: Team3 Oy
Vehmanen, Antti (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024120332304
https://urn.fi/URN:NBN:fi:amk-2024120332304
Tiivistelmä
The main objective of this product-based bachelor’s thesis is to develop a budgeting and financial performance tool for the commissioning company Team3 Oy.
The project has been divided into four phases. In the first phase, theories are analysed and reviewed. Different budgets and budgeting methods are also explored, which work as a base for the tool. The budgeting methods and the budgets are evaluated so that suitable tactics are established for the company.
In the second phase of the project, the commissioning company’s current budgeting ways are analysed. Also, qualitative interviews are conducted with the CEO of the commissioning company and with an outside professional. With the gathered insights about budgeting, the tool is then designed and developed for the commissioning company.
The structure and content of the tool is covered in the third phase. The income statement budget works as a master budget in the tool. Additional budgets for different business operations have also been made. With the variance analysis part of the tool, the company’s performance is analysed. The tool has sheets for data and the sorting of the data, which work as another way to analyse the structure of the revenue and expenses for the commissioning company. The tool has been built with Microsoft’s Excel spreadsheet application according to the company’s needs.
Evaluation of the project management and outcomes have been assessed in the fourth phase of this project. The author reflects on learning from this project and goes through the practical implementation of the learnings made. Lastly, some recommendations are given to the commissioning company on how the development of the tool should be implemented to ensure the optimal performance of the tool.
The project has been divided into four phases. In the first phase, theories are analysed and reviewed. Different budgets and budgeting methods are also explored, which work as a base for the tool. The budgeting methods and the budgets are evaluated so that suitable tactics are established for the company.
In the second phase of the project, the commissioning company’s current budgeting ways are analysed. Also, qualitative interviews are conducted with the CEO of the commissioning company and with an outside professional. With the gathered insights about budgeting, the tool is then designed and developed for the commissioning company.
The structure and content of the tool is covered in the third phase. The income statement budget works as a master budget in the tool. Additional budgets for different business operations have also been made. With the variance analysis part of the tool, the company’s performance is analysed. The tool has sheets for data and the sorting of the data, which work as another way to analyse the structure of the revenue and expenses for the commissioning company. The tool has been built with Microsoft’s Excel spreadsheet application according to the company’s needs.
Evaluation of the project management and outcomes have been assessed in the fourth phase of this project. The author reflects on learning from this project and goes through the practical implementation of the learnings made. Lastly, some recommendations are given to the commissioning company on how the development of the tool should be implemented to ensure the optimal performance of the tool.