Alternatives to Traditional Budgeting
Now that we have spent some time discussing several problems with traditional budgeting, let’s look at some alternate approaches. Here is a review of the first three problems from my prior blog: Time Consuming and Costly Quickly Irrelevant and Outdated Financial Process…
September 20, 2019
FP&A Done Right: Beware of Budgeting – Part II
How is your budget/budget prep coming along? Have you set aside time to rethink your process? In that last installment of FP&A Done Right, we started our enumeration of the problems with traditional budgeting. Before I discuss several more, here is a…
August 9, 2019
FP&A Done Right: Beware of Budgeting
“Not to beat around the bush, but the budgeting process at most companies has to be the most ineffective practice in management. It sucks the energy, time, fun, and big dreams out of an organization. It hides opportunity and stunts growth. It…
July 26, 2019
The Importance of Including FP&A Early and Often in Your Strategic Planning Process
The Strategic Planning process at many companies is in sore need of an overhaul. As many of you know, the "Strat Plan" can take on a life of its own. It was not too long ago that I was the guy who…
July 12, 2019
FP&A Done Right: 5 Signs It’s Time to Rethink Your Process
If you have been following this blog series, you know that I am a ‘people and process’ guy. I’ve discussed how we become so good at circumventing the process that those workarounds become the process. Keep in mind, however, that a workaround,…
June 28, 2019
FP&A Done Right: There Is Life After December – The Fixed Forecast Dilemma
While this may be an old concept, the Fixed Forecast Dilemma still holds true today. Not too long ago, this was a fairly arduous task, even if you wanted to undertake it. This is now primarily a mindset change because today’s planning,…
June 14, 2019
FP&A Done Right: Creating a Shared Vision Between Finance and IT
I have seen the extremes of the Finance/IT relationship during my career as an FP&A professional. When I first started navigating the Finance space, any and all systems were ‘owned’ by IT. That’s simply how it was. There was this love/hate relationship…
May 31, 2019
FP&A Done Right: Why, Why, Why, Why? – the Hallmark of a Great FP&A Practitioner
“Why?” “Why?” “Why?” “Why?” “Why?” It’s maddening, right? We’ve all been there. Every time you answer a question, another one is immediately fired back. Thankfully, my two sons have grown out of that stage. I, however, have not. If you were to…
May 17, 2019
FP&A Done Right: How to improve cross-team collaboration
This is a guest blog post from our partner Adaptive Insights. When it comes to business, collaboration is vital. After all, no single department can do its job for long without the other departments pulling their own weight. Sales is no good if shipping…