Getting Departmental Financing Approved for a Needed Project

by Jennifer Young

Posted on November 25, 2016 at 10:00 AM

Stamp marked approved

Running or managing a department can be stressful. This is especially true when you have a project that you need to implement but first need to get approved through a finance department. What can help you make sure your project becomes a finance department's top priority?

First, don’t underestimate the old saying that "the squeaky wheel gets the grease". Any finance department needs to assess what are the most important projects. Without being in every department every day, this will be based on what needs appear to be the most urgent. So speak up. Make sure everyone within the department is on the same page and makes known the needs. Creating a sense of urgency will help your project move to the top of the priority list. 

Next, do your homework. If you provide your finance department with options and put together a presentation about what you think your best option would be, this will save everyone time. Don’t forget to include what matters to a finance department most: Money! If you find a vendor that would be a perfect fit, but they don't fall into your budgetary needs, let your preferred vendor know. With the right vendors, they may offer other options that can fit your budget. Also, many times vendors will discount a product if they want to earn your business and know exactly where their costs need to be. Make sure all of the work you do to get the best price is also presented to finance

Following these few simple steps can help you start getting your department’s needs met and approved.

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