Budgeting versus Rolling Forecasts
Every organization has a budget. And many organizations spend far too much time on the annual budgeting process. So does it make sense to just stop budgeting all together? Industry Market Trends asked this question in its recent article, “Is it Time To Scrap the Annual Budget Process?” Steve Player, program director of the Beyond […]
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The Magic Number of KPIs for Budgeting
Have you ever worked with someone who told you “everything is a priority?” Don’t you want to channel “The Princess Bride” and inform them, “I do not think that word means what you think it does.” Well, KPIs can be like that too – if you consider nearly every metric a KPI. At that point, you’ve lost […]
Learn MoreSteve Player Helps Small to Mid-sized Enterprises Master Business Forecasting
Steve Player, noted author and program director for the Beyond Budgeting Round Table (BBRT), is sharing his insights on business forecasting in an upcoming webinar, “How can Small to Mid-Sized Enterprises Master Business Forecasting.” The webinar takes place on Thursday, June 13 at 11:30am ET. You should attend this webinar if any of these apply […]
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Variance Analysis for Budgeting and Forecasting
Variance analysis is extremely important, and can definitely be more accurate and efficient. Plans often go awry which is fine if it’s your dinner plans. However, when your actual results don’t sync with your financial plan, you have a problem. Every general ledger account balance of your monthly actual results is likely to be different […]
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Reforecasting: A Vital Part of the Budgeting and Planning Process
“Life moves pretty fast. If you don’t stop and look around once in a while, you could miss it.” – Ferris Bueller Business moves fast too. And in the day-to-day world of a CFO or a senior finance executive, you know all too well the importance of reforecasting. Reforecasting gives you the ability to adjust […]
Learn MoreImprove Budgeting Efficiency with QuickBooks Integration
Bridge the gap between QuickBooks and your budgeting tool for easier, more accurate planning Creating budgets and forecasts in QuickBooks used to put businesses between a rock and a hard place; accept the limited functionality of QuickBooks or deal with an Excel nightmare. Now there’s Link Maestro, the only data bridge on the market that […]
Learn MoreWhy Database Applications beat Spreadsheets for Budgeting & Forecasting
Anyone who’s ever tried to create a budget in spreadsheets knows the frustrations of creating and maintaining formulas, tracking down broken links, getting ‘circular reference’ errors as well as the dangers of making strategic decisions based on error-prone data. Fortunately, spreadsheets are NOT the only option. Purpose-built, budgeting ‘database’ applications, make it easier to collect, consolidate, report and […]
Read MoreWhen the Spreadsheet Becomes a Disadvantage in Budgeting
Good budgeting practices are designed to minimize errors and inconsistencies, and engage front line managers that have the unique perspective of their department or area of responsibility naturally combining top-down guidelines and standards and bottom-up individual knowledge. Excel, the de facto tool for budgeting, is a powerful personal productivity tool, however, it lacks the collaborative […]
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