Going Beyond Budgeting? Then Read This!
Most finance professionals can agree that budget season is not their favourite time of the year and while alternatives exist most companies are still using traditional budgets for their planning and management operating model. It’s kind of a paradox because when no one likes to do something or like when a company’s products are not in demand then typically over time better alternatives will take their place. Yet, with budgeting, this still hasn’t happened. In my mind, the best alternative is going beyond budgeting which I have written about in several articles previously, however, few companies have been truly successful transitioning to beyond budgeting and I think I know why. Hence, to make a real push for companies to take the leap and be successful let’s discuss the issues with beyond budgeting based on my own experiences.
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