Two years ago, the company moved away from our annual budget and monthly variance reports, and adopted quarterly rolling forecasts supported by key performance indicators and scorecards. Is this approach useful to a line manager?

The way a company FP&A suite is organised (i.e. its setup) covers the way data are organised and analysed, the way the reporting and the forecasting are produced and performances are measured. What will qualify as the best FP&A set up? How will it be accepted by the company?

This article summarises the research conducted in Turkey’s top 500 industrial companies. The aim of the research was to test the criticisms towards Traditional Budgeting and to understand if Better and Beyond Budgeting approaches are desirable in the current environment.

One of the characteristics people use to describe me is well-read which is appropriate because I enjoy reading material that covers a variety of fields.  One of the fields I cover is sports because it provides connections to finance. While covering sports I found material that represents a connection to budgets and the connection is the leadership style of a football manager, Jurgen Klopp.

A Deloitte survey of 600 global finance leaders, as highlighted in CFO.COM, found that: "companies spent nearly half their time creating and updating reports, and just a fraction of that time devoted to uncovering insights in the data — insights that could prove vital to the business”. 

In this article, we will look at how driver-based advanced analytics has overcome the problems with the current budgeting process. This is the first article in a series that is devoted to next generation budgeting; specifically, the operational income statement (OIS) and its associated operational budget (OB).