Budgeting to Strategy AND Making Budgeting Strategic to the Organization

Two distinct but related questions: Do you budget to strategy, or do you budget to history and politics? Is budgeting a strategic function in your organization, or is it a mechanical one? In many organizations, the days of putting numbers on a spreadsheet and calling it a budget are over. Many organizations, but not all….    Read More

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10 Biggest Mistakes Made in Budgeting

We all make mistakes, right? But there are little mistakes and big mistakes and personal mistakes and business mistakes. A big mistake made in a business setting can have profound implications – both on you personally and on your organization. Budgeting is gaining significant importance as organizations try to improve and better tune their financial…    Read More

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How College Presidents Can Improve Financial Performance

How can college presidents improve financial performance and ensure support/funding of their strategic plans? Two things that all college presidents (small and large) have in common are (1) making sure that the entire institution is supporting and executing their strategy, and (2) identifying ways of improving both the financial performance and the health of the…    Read More

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The Seven Personas of Budgeting That Will Destroy Your Budget Process

As we all know (and are sometimes painfully reminded): not everyone is alike. There are many different personality types in the world. And there are also many different personality types in the budget process…not all of which are good for your budget process. We have identified seven different types of budget user personas that can…    Read More

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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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Reverse Engineering the Budget Process

Reverse engineering (the process of starting with a product and taking it apart to see how it works) has been used in product development for decades. Many organizations use this as a best practice in copying some key product or concept from a competitor. When applied to a process, it is the practice of starting…    Read More

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