Budget proposals
In addition to managing cash flow forecasts for Contoso, the Accounts receivable person creates and maintains the budgets. Previously, none of the departments implemented many changes. This lack of change has been attributed to the absence of year-end performance evaluations, which help in making necessary budget adjustments for the following year.
Finance insights provides an intuitive approach to handling budgets by using historical data to build a machine learning model that generates accurate budgets. Some departments that the Accounts receivable person budgets for will fluctuate less than others, such as payroll. However, with the predictive findings of Finance insights, they can accurately predict, regardless of how much the departments change each year.
From this point, the Accounts receivable person can make the necessary manual adjustments and then present this information to the people who will approve the budgets for Contoso.