Perfection Paralysis and Budgeting

“Perfection Paralysis” is defined as fear of moving on a particular issue unless absolute perfection is achieved. A similar sentiment is expressed in the phrase: “Perfection is the enemy of the good”. In other words, people will sacrifice positive achievement and movement because it was not perfect. If you could get a threefold improvement in…    Read More

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Excel in Budgeting – Friend or Foe?

Most organizations still use Microsoft Excel as their budget preparation tool. The reason for this is that the general ledger or ERP providers don’t focus on, or even understand, the budget process or budget workflow and do not think about this from the perspective of the average user or institution. So, financial people took matters…    Read More

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Seducing Users to Improve the Budget Process

In today’s world of software, people are used to being seduced by personal applications that make things simplistic…like Google or Facebook. They now expect that business software will follow suit. Wikipedia defines seduction as the process of deliberately enticing, corrupting, persuading, or inducing a person to engage in behavior. The word seduction stems from Latin…    Read More

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What Motivates Organizations to Abandon Excel Budgeting?

Budgeting, planning and forecasting are “mission critical” applications in most organizations today. A poor budgeting process is the number one reason why organizations miss their numbers. Implementing a process that appeals both to the financial organization, officially responsible for the budget, and the department heads, who own the results is hugely difficult. Poor capabilities from…    Read More

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15 Things You Can’t Do in Excel Budgeting (But Should)

Budgeting is “mission critical” in organizations today.  Yet many organizations still use Excel for budget preparation.  Many organizations have turned to Excel because their ERP systems had weak budgeting capabilities.  ERP systems were designed especially for financial people, with strict controls and transaction processing.  But successful budgeting involves non-financial department heads, requires flexibility, and account…    Read More

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