--- title: Essential steps for businesses in the 2025-26 financial year description: Has your business strategically planned for the new financial year? 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This time of reflection and projection is vital for enhancing operational efficiency, refining financial strategies, and setting a robust foundation for the year ahead. Here are pivotal actions to consider for the 2025–26 Financial Year: ### Secure your financial data Begin by setting closing dates within your ERP and Accounting databases. This ensures that your financial records for the past year are locked and protected, preventing accidental alterations and ensuring data integrity. It's a fundamental step in preserving the accuracy of your financial history. ### Review your pricing strategy The new financial year is an opportune time to reassess your pricing model. Evaluate market conditions, cost changes, and competitive positioning to adjust your prices or fees. This proactive measure helps maintain profitability and market competitiveness. ### Wage costs analysis Review and plan your wage costs for the 2025–26 FY. With labour being a significant expense for many businesses, thoughtful planning in this area can lead to substantial cost savings and efficiency improvements. Consider potential staffing changes or process improvements to enhance productivity. ### Budgeting by business unit Allocate time to prepare comprehensive budgets for each business unit. This detailed approach allows for a more accurate financial forecast, enabling targeted strategies for revenue growth and cost management. It will provide a clear roadmap for each segment of your business. [![Contact us today!](https://hubspot-no-cache-ap1-prod.s3.amazonaws.com/cta/default/479958/d41a6b9b-b040-4792-8967-3378dfe1b181.png)](https://hubspot-cta-redirect-ap1-prod.s3.amazonaws.com/cta/redirect/479958/d41a6b9b-b040-4792-8967-3378dfe1b181) ### Streamline internal processes Undertake a thorough review of your internal processes to identify and eliminate inefficiencies. Streamlining operations not only reduces costs but also improves employee satisfaction and customer experiences. Embrace technology, automate where possible, and refine workflows. ### Setting goals for the new financial year Articulate clear, measurable goals for the 2025–26 financial year. These goals should encompass financial targets, operational improvements, market expansion, or product development objectives. Goal setting is a critical component of strategic planning, providing direction and motivation for your team. ### Important reminder Ensure that all budgets are meticulously set within your ERP software and accounting system. Integrating your budgeting efforts across both platforms enhances visibility, improves financial control, and streamlines reporting processes. As we move into the new financial year, let these strategies guide your planning and execution. It's an excellent time to reinforce the foundations of your business, seek growth opportunities, and enhance operational efficiency. Remember, the steps you take today will shape your business's success in the 2025–26 financial year and beyond. [![Aaron Milne, Associate, Business Systems Division](https://www.cutcher.com.au/hubfs/Aaron%20Milne-1.png) ](https://www.cutcher.com.au/business-systems#team) About The [ Author](https://www.cutcher.com.au/insights-and-news/author/aaron-milne) > Aaron Milne is an Associate in Business Systems & Advisory, specialising in ERP systems, operational workflows, and financial reporting. Timely, reliable, and approachable, he helps clients make informed decisions, streamline operations, and maximise the value of their financial and business systems. 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