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Beyond Budgeting

The Concept of ‘Beyond Budgeting’

By Steve Morlidge, Business Forecasting thought leader, author of "Future Ready: How to Master Business Forecasting" and  "The Little Book of Beyond Budgeting" 

The concept of ‘Beyond Budgeting’ has been around for nearly twenty years now. Although it has helped transform many businesses and has become part of mainstream management thinking in some parts of the world, I talk to many business people who have still not heard of Beyond Budgeting. And many of those that are aware of it find the concepts difficult to grasp.

Different Planning Methods for FP&A

by Michael Coveney, co-author of "Budgeting, Planning, and Forecasting in Uncertain Times"

 

Planning involves many kinds of methods that help managers make decisions. It goes without saying that any planning system must be able to handle both financial and KPI information, it must be able to model the different business structures (products, departments, customer groupings) and possess good reporting and charting capabilities. It should also be able to report data from both a financial viewpoint as well as a strategy view through dashboards and strategy maps, as well as be multi-user that allows secure access to people with different roles.

We will look at the different methods an organization can use to set direction. 

 

Rolling Forecast: 7 Factors for Success

By Larysa Melnychuk, Managing Director at FP&A Trends group

The concept of a Rolling Forecast is a hot topic in FP&A at the moment. Many companies attempt to implement it, but not all of them are successful. Statistics suggest that one in five of the organisations that implemented rolling forecasts recently have since abandoned them, because they proved to be more complex than initially expected. Additionally, they didn’t find enough value in this tool to continue using it.

However, a Rolling Forecast can be a powerful tool for FP&A if used correctly..

Evolving FP&A: Should the Budget be Abandoned?

By Larysa Melnychuk, Managing Director at FP&A Trends group

In a rapidly changing business environment, the traditional, out-dated budgeting mentality is being challenged more and more. Target negotiations, political games and biased planning processes cost companies a lot of money. These conventional budgeting practices are non-value adding and need to be abandoned if organisations want to stay competitive in this dynamic business environment.

While the process of moving away from a traditional budgeting mentality is painful and slow, it is happening around the globe. The question is, are we ready to abandon the traditional budget completely?

Steve Morlidge's Workshop: Beyond Budgeting

Beyond Budgeting…what it is and how it can transform business performance

The ‘Beyond Budgeting’ ideas has been around as an idea for over a decade but, while financial planning sits at the core of their roles, many FP&A professionals are still unaware of Beyond Budgeting and so have not learned how it can help tame the bureaucracy and bad behaviour that we have come to associate with traditional processes of financial planning and analysis.

Even fewer understand how it can radically transform business performance by liberating and channelling the entrepreneurial spirit in businesses.

Receive a copy of ‘The Little Book of Beyond Budgeting’ worth £15 when you subscribe to this workshop

Led by one of the foremost authorities on the subject in this workshop you will learn:

What Beyond Budgeting is

..and how it effects the way in which targets are set, performance is measured and forecast, resources allocated and business activities co-ordinated. In addition, you will also learn about the implications for the reward process and how businesses are structured.

Why it works

…and how Beyond Budgeting ideas provide businesses with the agility needed to survive and thrive in an unpredictable environment.

Workshop Leader

Steve Morlidge: former leader Chair of the Beyond Budgeting Round Table, leader of an implementation for a major Blue Chip company and author of  ‘Future Ready’ and ‘The Little Book of Beyond Budgeting’. See full bio here.

Steve Morlidge has 30 years of practical experience in designing and running financial performance management systems in Unilever, including three years as the lead of a global change project. He is a former chairman of the European Beyond Budgeting Round Table and now works as a public speaker and trainer, drawing on his years of experience at the leading edge of performance management thought and practice.

Steve Morlidge has recently published Future Ready: How to Master Business Forecasting, John Wiley, 2010, and is a visiting fellow at Cranfield University, Bedfordshire, UK. Morlidge is on the editorial board of Foresight, a forecasting practitioner’s journal published by the International Institute of Forecasting to which he regularly contributes. He is also a cofounder of CatchBull, a supplier of forecasting performance management software.

Steve Morlidge has a PhD from Hull Business School in Yorkshire, UK focusing on the application of systems concepts to the design of complex organizations. He completed his BA with honors, and he is a qualified management accountant (CIMA).

Steve Morlidge has 30 years of practical experience in designing and running financial performance management systems in Unilever, including three years as the lead of a global change project. He is a former chairman of the European Beyond Budgeting Round Table and now works as a public speaker and trainer, drawing on his years of experience at the leading edge of performance management thought and practice.

Steve Morlidge has recently published Future Ready: How to Master Business Forecasting, John Wiley, 2010, and is a visiting fellow at Cranfield University, Bedfordshire, UK. Morlidge is on the editorial board of Foresight, a forecasting practitioner’s journal published by the International Institute of Forecasting to which he regularly contributes. He is also a cofounder of CatchBull, a supplier of forecasting performance management software.

Steve Morlidge has a PhD from Hull Business School in Yorkshire, UK focusing on the application of systems concepts to the design of complex organizations. He completed his BA with honors, and he is a qualified management accountant (CIMA).

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