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Achieving a Flexible and Relevant Budget For Your Organization

Everyone talks about their budgets and the issues that go along with it, but rarely take any action. A new AFP member survey of finance professionals, Is Your Budget Relevant? , found that the majority (55%) of respondents said their company had a rigid or ironclad budget process. This keeps them from being agile in an increasingly flexible world. On the other hand, 30% of respondents said their budgeting was “loose”. An answer to solving this is adopting and budgeting for a rolling forecast. You can’t tell in advance where your customers will be, but it is important to budget for them.

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