Individuals, small companies and corporations mainly use one of two budgeting techniques — bottom-up or top-down budgeting. Bottom-up budgeting starts from the lowest level in an organization and works its way up to formulate a budget. Top-down budgeting starts from management and works down to lower-level units. Advantages and disadvantages exist for both techniques.
RAK Budgeting Solution is a software designed to support combination of the top-down and bottom-up methods. The user can enter budget amounts for each division based on goals established by middle management. But management can use budget formulas to calculate budgets for cost centers within each division.
It is designed to address the planning and forecasting challenges faced by organizations everywhere particularly for Mining Industry. The software can be integrated to the ERP software and even can be used as standalone software.