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Rolling Forecast. Part 1 – What problems are we solving?
Before a doctor prescribes a course of treatment, she first will diagnose what your ailment is… or at least a good doctor will. Imagine how you’d react if you walked into your Doctor’s office with a backache and without asking you a single question she...
Rolling Forecast – a 3 Part Series
The question I get most frequently is “Do you believe in Rolling Forecast… is that what we should be doing?” A good, comprehensive answer to that question is addressed in an upcoming thee part blog series. Part one will look at the common problems of...
Coaches are paid to win, not forecast
If you think planning and budgeting is about producing estimates of what might happen, that takes you in one direction. It’s all about variables and inputs and outputs. Rolling Forecast would appeal to you because it’s all about updating your estimates...
Managing the budget process at Pepsi
As Financial professionals we tend to think in mathematical terms, and we assume others do to. So when we think about presenting something that is “user friendly” for budgeting, we set up mathematical equations for Budget Holders, and ask them to input...
The Budget Process: Career Maker or Career Breaker?
Budgeting touches every corner of the organization, and if you’re involved in it you know the “exposure” you get (some people think of it as over-exposure). And if you consider that budgeting hits people where it counts (the wallet) then you know you...
Why now? Why are changes to budgeting happening now?
We have seen an amazing amount of changes to budgeting and planning over the last 18 months. So why now, what’s triggered these trends? Well, the first one is pretty obvious. It’s the economy stupid. The absolute need to do more with less. Budgeting is all...
Mega Trends in Budgeting: Ditching Spreadsheets
Every ERP System and General Ledger system today has some sort of budgeting module, undoubtedly yours does too. Or you’ve got some other choice other than Excel for budget development. But having said that, most organizations have rejected these alternatives...
Mega Trends in Budgeting: Increasing Culture of Accountability
Keep in mind that there is a direct relationship between participation and a feeling of ownership. Here’s an example from your personal life. If I studied your spending patterns and how much money you make, I could come up with a savings plan for you. If I did,...
Mega Trends in Budgeting: Budgeting in Business Terms
This trend recognizes that line managers and people in accounting speak different languages, and you need some way to interpret. Managers don’t think like accountants, at least not those managers outside of Finance. Here’s a really obvious example of that....
