Over the twenty years that I have worked with Beyond Budgeting, I have asked tens of thousands of managers and Finance people all over the world about how satisfied they are with the budgeting process.
Usually I am fairly rational and do not let my personal emotions interfere with how I interact with others. However, as the readers of my blogs and articles may have detected, my more recent writings increasingly reflect my frustrations with old school accountants.
Welcome to this blog series, where I look forward to share with you some of my reflections on what I believe are very important issues for most organisations today.
By Daniele Tedesco, CEO at Apliqo and MD DACH Region at Cubewise
More than 15 years ago, the Harvard Business Review had already declared corporate planning and budgeting as all but dead. “Corporate budgeting is a joke, and everyone knows it,” the business magazine wrote in 2001. The polarizing article generated an enormous reaction. However, little has changed since then.
By Siva Raj Jeyarajah, Executive Vice President at Maybank
Siva Raj Jeyarajah is based in Kuala Lumpur, Malaysia, and is the Head of the Finance, Methods and Risk Management Department of Maybank’s Group Operations Division. Siva Raj is a qualified Accountant and holds the ACCA qualification and the CPA certification, including a BSc (Hons) from the National University of Malaysia. He is also a member of the Malaysian Institute of Accountants (MIA) and a fellow of the Association of Chartered Certified Accountants (UK).We’ve all come across checkpoints in our personal lives where we commonly think about or use phrases such as “let’s take a few steps back”, “I need to reset things” and “let’s start all over again”.
The corporate planning process is a controversial subject on which opinions differ widely. But experience has shown that an effectively implemented planning process brings companies a clear added value in many respects. Enterprises are helped to achieve their set targets or to take corrective action if unforeseen changes occur in the background conditions.