In last weeks’ post I spoke about how businesses were waiting on tenterhooks to see what the 2012-2013 budget address would bring. Now the wait is over and opinions on the Chancellor’s proposals have been mixed. While small businesses have criticised the Chancellor’s corporation tax reduction for acting to help big business while ignoring smaller traders, others think that overall the budget was ‘fiscally neutral’ and won’t do much to encourage growth in the next financial year.
Whatever your view on the budget, what is clear is that the economy remains turbulent with 2012 marking three years since UK interest rates were first cut to the record low of 0.5%. In a new financial year where every penny will count, businesses will have to work to make better strategic decisions in order to ride out the uncertainties the economy presently offers.
To do this they need to have granular real time insight into their business. By integrating business intelligence, enterprise resource planning and billing software, organisations will have clear visibility of their business. This will empower any organisation to be more confident in making the decisions that really count as they move into the new financial year.