Today’s Business Budgeting; Can Your Spreadsheet Software Keep Up

When it comes to business budgeting and planning, traditional spreadsheets are labor-intensive, prone to errors, and static, so it can be difficult to get a clear view on your current and future financial position.  With the fast pace of business change, CFOs need accurate financial information to make informed decisions on the fly.  Accounting has […]

Modernizing Your Process: Budgeting Best Practices for Finance Teams

As many organizations begin to look to the months ahead, building a 2022 budget is at the top of many to-do lists. For most CFOs and their teams, it’s a time when they must do the impossible – pin down a budget and financial plan despite constant flux and uncertainty. Which is why implementing best […]

The Real Budgeting and Planning Complexities for Today’s Businesses

The finance team faces unique set of  challenges and opportunities as this year’s budgeting season kicks off. Traditionally starting in Q3, the office of finance must begin the critical budget process with incomplete and potentially inaccurate data and a lack of engagement from their business partners. The CFO and his team, however, know that they […]

The Budgeting and Forecasting Process – All You Need to Know

For business leaders, improving the efficiency of internal processes is a top priority – especially in today’s dynamic business environment. The budgeting and forecasting process is no exception as it provides strategic insights that support decision making and goal setting – both of which are critical elements of a company’s success, especially during times of […]

Forever Changed: The Rise of Cloud FP&A for Business Budgeting

As we mentioned in our last blog, there really is no going back to the old way of business budgeting and planning, which is why FP&A professionals refer to the current state of finance as the new normal. And one of the reasons the ‘new normal’ will remain is that budgeting and planning were headed […]

Forever Changed: Business Budgeting for SMBs

For decades, the finance team’s professional lives were governed by a fifth season: Budgeting. In late-summer team members began meeting with General Managers and department heads as part of the business budgeting process to assess revenue and expenses over the past 12 months, and make predictions as to what will happen in the future. That […]

Driver-Based Planning: The Benefits & The Barriers – Is It Right for Your Organization?

As CFOs and budget managers have continued to take more important roles in operations and decision making across organizations, so too has the budgeting and planning process evolved. This is where driver-based planning has achieved more traction over the traditional annual budgeting and planning process in many businesses. A driver-based approach works to identify key […]

The New Normal: Financial Consolidation and Data Transformation

2020: The Year Everything Changed In the pre-pandemic world, most companies consolidated their financial statements on a quarterly basis. Aggregating the assets, liabilities, expenses, cash flow and P&L across subsidiaries, divisions and product lines is simply too manual and time-consuming a process to create consolidated financial reports more frequently. Infrequent financial consolidation isn’t an ideal […]

4 Ways FinTech Can Help Improve Your Business’s Financial Situation in 2021

Fintech is a buzzword that you likely have heard thrown around the business sphere over the last ten years or so. If you don’t know yet, Fintech, or financial technology, is any piece of technology that is intended to improve financial processes. After the global financial crisis that took place in 2020, many businesses are […]