Why Locked Down Budget Templates Are Failing YouExcel is an incredibly flexible tool. Anyone who’s worked with it for more than a week knows that. It’s a blank canvass where you can write any formula your imagination can conceive. But when it comes to using Excel for budgeting, Excel becomes the exact opposite of flexible. It becomes rigid as stone. And this… Read More |
Rolling Forecast. Part 2 – What is a Rolling Forecast?Most of us know what a Forecast is, or you wouldn’t even be a reader of this blog. It’s a projection. But what makes a rolling forecast, well… rolling? That’s the heart of the matter and that’s where we want to focus our attention. A rolling forecast is one where the assumptions of original projection… Read More |
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 prescribed eye drops. I’m sure the eye drops are great… Read More |
Rolling Forecast – a 3 Part SeriesThe 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 corporate planning and budgeting. That’s important because you want a… Read More |
Coaches are paid to win, not forecastIf 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 with updated variables. But if you believe it’s about goal setting and driving results,… Read More |
Managing the budget process at PepsiAs 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 their assumptions for missing variables. That’s how we wind up with # of… Read More |
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 can wind up being the most loved or hated person in the… Read More |
Mega Trends in Budgeting: Ditching SpreadsheetsEvery 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 have opted to stick with Excel. Why is that? Well they were not that impressed… Read More |
Mega Trends in Budgeting: Increasing Culture of AccountabilityKeep 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, you’d probably politely thank me for all… Read More |
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 about managing resources and that tends to get a… Read More |
