FP&A is going to thrive and evolve if it continues to enhance the decision-making process in an uncertain business environment. This is why we need to see a huge shift in the FP&A skill set.
How can you successfully implement a Zero-Based FP&A design? There are 10 practical steps to be taken into consideration.
In this article, we will explore the concepts of Zero-Based Budgeting and Zero-Based FP&A. The word “Budget” is not associated with flexibility and dynamics. Zero-Based Budgeting has started to be evolved to “Zero-Based Everything”:
Most recently, I have been observing significant changes in business models in many organisations around the globe.
Many FP&A Board members say the future can no longer be predicted based on only historical data since we are living in an environment of “Unknown Unknowns”.
The concept of Zero Based Budgeting (ZBB) is by no means new. It has been around for almost 50 years and has been used by many commercial and non-commercial organisations whose overriding objectives are to shed the unnecessary expenses.
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?
Pagination
Author's Articles
FP&A is going to thrive and evolve if it continues to enhance the decision-making process in an uncertain business environment. This is why we need to see a huge shift in the FP&A skill set.
How can you successfully implement a Zero-Based FP&A design? There are 10 practical steps to be taken into consideration.
In this article, we will explore the concepts of Zero-Based Budgeting and Zero-Based FP&A. The word “Budget” is not associated with flexibility and dynamics. Zero-Based Budgeting has started to be evolved to “Zero-Based Everything”:
Most recently, I have been observing significant changes in business models in many organisations around the globe.
Many FP&A Board members say the future can no longer be predicted based on only historical data since we are living in an environment of “Unknown Unknowns”.