Human beings are creatures of habit. Once they have mastered certain habits, especially bad ones, it is extremely difficult to let go. Even though we are fully aware that the immediate, medium-term or long-term consequences of our bad behaviours are dire, we still cling unto them. Could this be because… Read More »Rethinking the Annual Budgeting Process
The annual budgeting process has been around for decades and still forms part of the performance management framework for the majority of organizations. As the economic environment has evolved and become more dynamic, has the budgeting and forecasting capabilities in your organization also evolved and adapted to this change? Unfortunately,… Read More »Why Implement Continuous Rolling Forecasts?
As the role of the finance function continues to evolve from reporting on what happened in the past to driving business performance and creating enterprise value, the function’s financial planning and analysis capabilities need to be improved. More than ever, increased volatility and uncertainty is placing considerable pressure on finance… Read More »Improving Finance’s Financial Planning & Analysis Capabilities
It is a fact that no one can predict the future with certainty. But does this mean that the management teams need to steer their organizations with a rear view perspective? The answer is a big NO. Management need to at least anticipate different future scenarios that the organization is… Read More »Breaking Free From the Shackles of the Annual Budgeting Process