What is Budget in SAP BV-FINANCE - Brand Voice - Financial Management?

SAP Term: Budget

• Component: BV-FINANCE

• Component Name: Brand Voice - Financial Management

• Description: A reporting cloud service available as an add-on to Concur Expense and Concur Invoice that delivers real-time budget information before and after spending.

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• Key Concepts: 
  Budget is a financial plan that outlines the expected revenues and expenses of an organization over a specific period of time. It is used to plan and control the organization’s financial resources, and to ensure that the organization meets its financial goals. 
  
  How to use it: 
  In SAP, budgeting is used to plan and control the organization’s financial resources. It allows users to create budgets for different departments or cost centers, and to track actual expenses against the budgeted amounts. It also allows users to analyze budget variances and take corrective action if necessary. 
  
  Tips & Tricks: 
  When creating a budget in SAP, it is important to consider the following factors: the organization’s goals, the current economic environment, the expected changes in the market, and any potential risks. Additionally, it is important to review the budget regularly and make adjustments as needed. 
  
  Related Information: 
  For more information on budgeting in SAP, please refer to the SAP Help Portal or contact your local SAP representative.