The Role of Financial Planning and Forecasting in Improving Financial Performance at Bics Global Technology, Chennai

Abstract

This study focuses on financial planning and forecasting as important tools for improving financial performance and maintaining financial stability in an organization. It examines how effective financial planning supports resource allocation, cost control, and decision-making, while forecasting helps in predicting future financial performance and business growth. The study is based on secondary data collected from the company for a period of five years from 2021 to 2025. Various analytical tools such as ratio analysis, Pearson’s correlation analysis, and forecasting techniques were used to evaluate the financial position of the company. The study found improvement in liquidity, profitability, and solvency, along with efficient utilization of resources and reduced financial risk.