It is commonly agreed that the traditional budgeting process is time-consuming and costly. It rarely focuses on strategy and adds little value. Although traditional budgets have evolved over the years, they hardly meet the challenges of the modern economic and business environment.
The vast majority of companies still rely on traditional organisational designs characterised by hierarchical structures, and steering with budgets. But these designs are outdated, severely limiting a company's ability to act and respond in today’s fast-changing environments.
How can organisations operate viably in this age of uncertainty?
Although traditional budgets have evolved over the years, they can hardly meet the challenges of the modern economic and business environment.
The Digital UK & Ireland FP&A Board is
Transformation and new ways of working – the buzzwords that you hear a lot these days applied to business or IT functions. Are these concepts also suitable for finance, and especially finance in a stock listed large corporation? This article will describe this transformation and also outline the main success factors.
What could Beyond Budgeting mean for your enterprise — and what benefits are available if you move past traditional command-and-control approaches to finance? With the right technology, companies will be better equipped to operate in a more agile way and achieve their financial goals.
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