Tag Archives: Budgeting and Planning

Rethinking the Business Planning Process

“Many plans and budgets are now based on outdated assumptions and data, requiring FP&A teams to rethink the annual business planning process. Discussions with FP&A leaders, CFOs, and Deloitte’s Finance Transformation and Human Capital professionals, suggest several factors have led leaders to challenge the traditional process, including the need for constant scenario development and modeling; […]

CFO Priorities for 2021 Includes Digital Transformation

“After surviving the initial wave of the pandemic, many organizations obtained a real-world view of how far along they were in their digital transformation journey. In many cases, the verdict was “not nearly as far as we thought we were.” Although most companies have automated processes, fewer have optimized that automation; fewer still have deployed […]

Raw Material Annual Spending – Is it Relevant for Your Budget?

by Ganesh Subramanyan When calculating the total spend on raw materials in your annual budget, do you evaluate the spending level for varying volume, mix, or inventory assumptions? My guess is no because changes in these areas are irrelevant to the total profits for the year. When budgeting, most calculate gross margin by just subtracting […]

Nine Key Traits from CFOs at Efficient Growth Companies

A recent Gartner survey of CFOs have identified nine traits CFOs should implement for better performance during a crisis including fighting scope creep, protecting costs that support competitive advantages, and using a mix of budget models to identify the activities that truly deliver value. Read more at Gartner >

Your plans useless but you’re still planning

“Planning in such highly uncertain times must focus on the ability to quickly and flexibly react to fast changing circumstances. Doing so effectively, requires that the company has thoroughly mapped its supply chain, including the physical locations of its suppliers’ plants and warehouses, so it can quickly identify which of its products might be affected […]

From Uncertainty to Agility

“The COVID-19 crisis has highlighted the need for sophisticated, institutionalized risk management, including real-time scenario planning, business continuity planning and “sense and respond” capabilities. In the aftermath, we will likely see greater flexibility in network capacity, more local and multi-sourced supply, and multi-skilling of employees.” Read more at SCM World >

When You Have Too Much Tech

Surveys show CFOs generally see the need to incorporate technology to help them improve their finance and accounting functions. But knowing which technology is right for their operations and which isn’t — and also when the time is right — is the “opportunity and the curse,” says Bryan Lapidus, FP&A, director of the FP&A practice […]

AFPs Eight Steps to Rolling Forecasts

With more organizations shifting from traditional budgeting to rolling forecasts, The Association for Financial Professionals has shared their list of 8 steps to help finance teams avoid missteps at every stage from goal setting to tracking performance. Read the 8 Steps for Creating a Rolling Forecast >

CFO Trends for 2020

CFO Dive shares it’s list of five trends for CFOs to watch in 2020, including the insight that more finance operations will move to a rolling forecast. By enacting this trend, it creates a “rolling time horizon [that] enables executives to make decisions based on market dynamics rather than an artificial target”. Read CFO Dive […]