Before submitting the budget proposal, it is essential for IT to:
- Learn about requirements from each business unit using a comprehensive questionnaire
- Confirm which items should be part of the budget
- Estimate the costs of each project
- Classify expenses by type (i.e. discretionary, non-discretionary) and line item
- Provide custom reports based on monthly, annual, and year-over-year expense breakdowns
- Complete a readiness checklist to ensure all steps in the budgeting process are complete
Use this tool to ensure that all information is complete and communicated to management.