The pressure of globalization and agile decision-making requires companies to improve their business modeling. They must integrate big data in real-time, synthesize that data to identify causal relationships and value-drivers, and ultimately use the findings to make high-impact business decisions.
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This article will emphasize that ZBB is not exclusively for small businesses. It discusses zero-based budgeting as a tool that can be used to improve a company's understanding of is processes, risks, and opportunities and does not need to be applied to every line or department impacted in the budget.
When companies put greater weight on what the numbers mean, they often rely more heavily on financial reporting and perceive FP&A as a ‘nice to have’. But it’s quite the contrary. FP&A should be used to assist company leadership in problem-solving, risk management, and growth planning. But what is Corporate FP&A Done Right?