Statistical approaches to forecasting can provide a framework for creating rolling budgets to which analytical skills and judgment can be applied in supporting a sound budgeting process.
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Artificial intelligence (AI) is now becoming a reality in Finance. AI is already impacting our everyday lives – through the adverts we see on Facebook, the shows selected for us on Netflix to the Google automated assistant being able to book meetings for us.
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.
As the 4th Industrial revolution makes sizeable impacts on our lives through various sectors like taxis/ride sharing, accommodation, banking, investing and transaction processing etc a group of finance professionals are not just sitting back and watching as this unfolds before them.
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