Documentation & Justification: The not-so-secret recipe for successful budgeting.

It might seem obvious – but when your budgeting process engages multiple participants across the organization it becomes as much an exercise in communication as an analysis of the numbers.  Multi-participant budgeting works best when budget managers are able to document their assumptions, delineate how these costs align to key strategic objectives, and defend the…    Read More

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Employee Retention: How Your Budgeting Process Can Help You Engage (And Keep) Your Employees

Replacing lost talent is a challenge…to say the least. It costs employers and managers an extraordinary amount of time, resources, and energy when an employee jumps ship. We’re talking lost productivity, overworked remaining staff, lower overall morale, and lost knowledge – plus recruiting, interviewing, and training costs. According to Hay Group senior principal Mark Royal,…    Read More

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A Decision Point Case Study: When is it the right time to move to a purpose-built budgeting, forecasting and reporting solution – and why?

  When is it the right time to move to a purpose-built budgeting, forecasting and reporting solution – and why? Lots of organizations “make-do” year over year with their current budgeting approach (Excel, ERP, etc.) At XLerant we often hear the question – “When is it the right time to invest in a dedicated, cloud-based…    Read More

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How (and Why) Do You Budget for Special Initiatives?

Organizations normally want their department heads to hit some targeted expense number in the budget process. They set corporate guidelines and ask each department to stay within those guidelines. But sometimes, individual departments have ideas, programs, activities or initiatives that they would like to propose that fall outside of the “standard” guidelines. These initiatives could…    Read More

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Why The CTO Should Care About The Budgeting Application

While CTO’s have always been very busy people, these days the job is even more taxing with constantly evolving software, technology platforms, and now the introduction of cloud computing. That said, there is one application area that has slipped outside the boundaries of the CTO sphere of influence. This application has become mission critical and…    Read More

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