Davis operates across 15 countries and has sales turnover of over
£1 billion. To meet its needs, the company has developed a
robust and detailed budgeting and planning process involving its
managers. Budgeting provides an essential forecasting, control
and feedback system on which effective management depends.
This process translates competitive strategy into reality.
Evidence of the power of managed budgeting was seen as
recession gripped the European economies in 2008. Davis was
able to assess effects and build new and realistic assumptions
into its budgets for the remainder of 2008 and 2009. These have
proved resilient in practice. As an exceptionally challenging year
ended, the company was on track to fulfil budget expectations.
By identifying and managing risks, Davis Service Group has been
able to return profits, dividends and cash flow for shareholders in
a difficult economic climate. This also allows the business to
invest for growth in 2010 and beyond