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?

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Many experts agree that IBP has a monthly check and balance with the budget and the strategic intentions of a business. Therefore, a well-executed IBP cycle will provide monthly visibility and measures progress against business objectives and strategy in the long-term horizon.

This article describes the four stages of Integrated Business Planning (IBP)

One of the ways to achieve this is to go beyond Budgeting. Beyond Budgeting has been a hot topic in finance for a long time and unsurprisingly, it has become the subject of the 6th Geneva FP&A Board.

It was famously quoted by Bjarte Bogsnes from Statoil: “The main purpose of Beyond Budgeting is liberation from dictatorship, micromanagement, number worshipping, calendar periods, hierarchies, secrecy, stick and carrot”.

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Inside this article are the bread and butter ratios of statement analysis. Some gauge effective use of assets. Some report the financial condition of the company. It is with these the ratios (relationships) where it all begins. What I am outlying here the very core of corporate finance statement analysis.

The International FP&A Board was created in London, UK, in 2013 to guide the development and promotion of the best practices in Financial Planning & Analytics (FP&A).

Many will still argue that target setting works. “What gets measured gets done”. Yes, targets do work. That is actually the problem. Managers hitting their target is, however, no guarantee whatsoever that this was their best possible performance, given the circumstances.

The future of IBP will be to plan across the whole value chain. A final step in IBP scope will be to understand and incorporate constraints to create a global view.