June 2024
Is your business’s financial health and performance currently aligned with your original plans for the year?
As we say goodbye to June and the first half of 2024, you might be reflecting on mid-year performance reviews and gearing up to prepare forecasts for next year. If your actuals aren’t meeting projections, now is the perfect time to make adjustments or change course.
Keep reading for tools and best practices to help you achieve your business goals in 2024.
Today’s News:
Start Measuring to Maximize Your Procurement ROI
Determined to Stay on Budget This Quarter? Use This Variance Report
Ask these questions to strengthen your supplier relationships
Control indirect spending to realize cost savings and create value
🎧 Listen: Eliminating manual processes helped this business improve profitability
Read time: 5 minutes
Resource Spotlight 🔦
Variance Report Template
Using a variance report provides critical fiscal insights, enabling you to optimize your budget, simplify your procurement processes, and improve financial performance.
This analysis helps to identify spending patterns, inefficiencies, inaccurate assumptions, and areas of overspending or underspending. By comparing budgeted figures against actual expenditures, variance reports highlight discrepancies that require attention.
Recommended by LinkedIn
Download the variance report template to identify deviations and improve your forecasting process for better business outcomes.
In the News…
Realize cost-savings and create value: Read how to control indirect spending and improve bottom-line KPIs.
Procurement ROI is the best KPI: Start measuring and monitoring to make smarter spend decisions
Achieve supply chain resilience at scale: Learn how to address internal and external turbulence (and what tools can help)
Are you asking the right questions? Create win-win relationships with your most important suppliers
Success Stories
“[Order.co] saves us time, it saves us money, and it even allows us to make money.” Trade Roots, David, Director of Operations & Facilities
Read how Trade Roots eliminated manual purchasing and leveraged Order.co working capital to increase fulfillment capacity. With management now able to dedicate more time to strategic initiatives and team management, their operations are set for scalable growth.
That’s it for this month!
As we move into the latter half of 2024, leveraging these insights and tools can drive significant improvements in your financial performance. Stay proactive and adaptable to ensure your business remains on track to meet its goals and thrive in the coming months.