Nearly all companies invest significant time and effort into their budgets—but is all that work really working?
A few organizations have dared to break the mold, shedding traditional budgeting exercises in favor of “Beyond Budgeting,” a practice that they argue allows them to adapt to changing markets with ease while motivating their employees to work towards well-designed targets.
The CFO Handbook will elaborate for CFOs the advantages and disadvantages of breaking away from the budget, and how the lessons from this handful of rebel companies can be incorporated into their own company practices, while addressing other financial planning concerns such as technology and risk.
Topics covered in Banishing Budgets include:
- An explication of the flaws of traditional budgeting practices;
- A description of how a budget can be replaced with more fluid forecasting tools and the challenges that face CFOs who want to make the switch;
- Case studies of companies that have switched or are in the process of switching to new tools such as continuous planning and rolling forecasts;
- Why some CFOs feel strongly about keeping the budget, and how they have made an effort to improve rather than replace it;
- The best tools and technology to use to optimize financial planning;
- How to deal with budget complexities like overstocked inventory or volatile exchange rates.