The traditional budgeting process is short-term focused, causes unnecessary control and bureaucracy and results in a conflict of interest. For most present-day organisations, Traditional Budgeting is no longer fit for the task.
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The FP&A maturity journey requires the organisation to develop across all the facets: Leadership, Functional Skills, Business Partnership and Collaboration, Process, Data and Analytics, and Technology.
Is planning a routine annual exercise or a flexible and dynamic FP&A process that drives value and supports decision-making under uncertainty? How to achieve the latter?
Unstable times are putting pressure on our planning process: we need to re-forecast more often to make timely and informed decisions, while at the same time we need to expand our forecasting horizons and look ahead. How can we achieve this?
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