For organisations looking to get the most out of their Driver based planning and Rolling Forecasting initiatives, it is critical to realise that these terms apply in both Strategic and Tactical planning. Yet the people, processes and technology applied to these two domains are quite unique.
In a rapidly changing business environment, the traditional, out-dated budgeting mentality is being challenged more and more. 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?
Many experts agree that IBP has a monthly check and balance with the budget and the strategic intentions of a business. Therefore, a well-executed IBP cycle will provide monthly visibility and measures progress against business objectives and strategy in the long-term horizon.
This article describes the four stages of Integrated Business Planning (IBP)
For organizations with annual expense budgets, it is important to have procedures for monitoring expenditures and budget items throughout the year. This article visually describes how to use statistical forecasting models, uncertainty ranges and space forecasting models for this purpose.
A move beyond traditional budgeting does not necessarily mean losing the budget. Rather, it’s important to reduce some of the traditional planning approach and taking a modern, flexible view of how to best remain agile and perform better.
The 19th London FP&A Board was debating about Zero Based Budgeting (“ZBB”). One of the key questions was if companies see a new Era for ZBB. The meeting was well attended and was a great success.