Search results

The 3rd Brussels FP&A Board on the 7th of November 2017

This meeting of Brussels FP&A Board is proudly sponsored by:

 

The 4th Amsterdam FP&A Board on the 9th of November 2017
The next meeting of Amsterdam FP&A Board is proudly sponsored by:    
The 3rd Frankfurt FP&A Board on the 15th November 2017
This meeting of Frankfurt FP&A Board is proudly sponsored by:     
The Zurich FP&A Board meeting on the 5th October 2017
The Zurich FP&A Board meeting is proudly sponsored by:
Traditional Budgeting: What are the Alternatives?

By Steve Morlidge, Business Forecasting thought leader, author of "Future Ready: How to Master Business Forecasting" and  "The Little Book of Beyond Budgeting"

Why, when everyone hates it, do we still have traditional budgeting? My tentative answer to this would be that most people were not aware of the alternatives.

FP&A: Learning to Love Risk

By Steve Morlidge, Business Forecasting thought leader, author of "Future Ready: How to Master Business Forecasting" and  "The Little Book of Beyond Budgeting" 

If measurement – or the lack of it – is the biggest weakness in most forecasting processes, risk is the least well understood concept…mainly because it is something that we think we understand, but we don’t. In my view, there are three major sources of this misconception.

Playing Golf in the Dark

By Steve Morlidge, Business Forecasting thought leader, author of "Future Ready: How to Master Business Forecasting" and  "The Little Book of Beyond Budgeting" 

About the only thing that everyone seemed to agree on in my old company was that forecasting was really important and that our forecasts were poor. I looked in the corporate controller’s database for a definition of what constitutes a ‘good forecast’. But I got zero hits.

Beyond Budgeting Without the Tears

By Steve Morlidge, Business Forecasting thought leader, author of "Future Ready: How to Master Business Forecasting" and  "The Little Book of Beyond Budgeting"

In my last blog, I promised to give you some tips about how to introduce some Beyond Budgeting ideas into your business to help make it more flexible and reduce the gaming behaviour associated with the budgeting game. Traditional budgeting has three major weaknesses:

Engineering Trust

By Steve Morlidge, Business Forecasting thought leader, author of "Future Ready: How to Master Business Forecasting" and  "The Little Book of Beyond Budgeting"

In the last blog, I described how it is possible to implement Beyond Budgeting in a step-by-step fashion. If you choose to go down this route you will become increasingly uncomfortably aware of a disconnect between Beyond Budgeting style processes and the rules and routines that govern normal business life in a traditional organisation. In the brave new world I have described, senior managers perched high in the organisational pyramid can no longer use targets and incentives to remotely control the activities of their subordinates and measurement systems no longer highlight deviations from pre agreed plans and budgets and trigger ‘corrective action’.  Resources are allocated continuously and an annual set piece planning ritual cannot effectively coordinate activities in an organisation that is continuously adapting to events.

'Business Analytic' Model Life Cycle

By Michael Coveney, Analytics Thought Leader and Author

Analytic models are rarely static. Their aim is to model the organisation in such a way as to allow managers to investigate what is actually going on and to assess changes to the way it operates.

+

Subscribe to
FP&A Trends Digest

We will regularly update you on the latest trends and developments in FP&A. Take the opportunity to have articles written by finance thought leaders delivered directly to your inbox; watch compelling webinars; connect with like-minded professionals; and become a part of our global community.

Create new account