Budgets were invented in the Industrial Age as an efficient management tool. So why in this day and age of VUCA, most of the organisations around the world are still so hung up on traditional budgeting?
Hans Gobin
FP&A Leader and London FP&A Board Ambassador
Finance Director with over 20 years of experience in Financial reporting (Internal, External, PLC, Board), FP&A, Performance Management, Systems Implementation, Multinational Project management, Transformation and Change Management, M&A, BPO & SSC.
Experience working in different company sizes ranging from Start-ups to large PLC and PE backed and experience working in various sectors including manufacturing, retail, pharmaceutical, FMCG, and practice.
Founder member of the London International FP&A Board, regularly delivering talks on FP&A-related subject matters.
Author's Articles
In the last couple of years, we have seen the business world turn upside down and organisations confronted with an ever-changing and dynamic environment. The traditional budgeting process is long obsolete. With most Organisations are not ready to abandon their traditional budgeting, Zero Based Budgeting is definitely a great way of improving and keeping the traditional budget relevant.
In the current highly uncertain business environment, an FP&A business partner needs to be equipped with defined skills and competencies that bridge technical acumen, technology, and influence. The organisation also has to evolve its model to allow the business partners to grow into a digitised FP&A business partner.
The new xP&A world is much more connected than before with the ability to assess the component of risk management, multiple scenarios, modulations, and simulations. All of them are integrated and require a much closer approach to the business intelligence range of new skillsets.
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