Is your budget process stuck in 1993?

Jan 6, 2021 | Beyond budgeting

Is your budget process stuck in 1993 ❓

Every FD and CFO want their finance teams to:

✅ build relationships

✅ turn data into INSIGHTS

✅ bring numbers to life

But then they continue to lead a budget process that:

❌ takes 6-9 months to complete

❌ detailed, bottom-up, for everything

❌ ultimately turns into a political bun fight

The result:

➡️ 6-9 months of detailed work only to sign off the original number the CEO thought of at the beginning of the process (being the smallest number the CEO thinks the market, bank or head office will accept)

The unintended consequences of this approach are many:

❌ huge time wasted

❌ stressed finance teams

❌ shut down of any business partnering for much of the year

Ready to think about things differently yet❓

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