Slash Your Budget Timescales By Up To 50%

www. adaptiveplanning. co. uk 1 | P a g e Slash Your Budget Timescales By Up To 50% Budgeting is a financially draining, laborious and tedious process. Often spreadsheet-bound, one survey suggests that as much as 20% to 30% of senior management time is... More

www. adaptiveplanning. co. uk 1 | P a g e Slash Your Budget Timescales By Up To 50% Budgeting is a financially draining, laborious and tedious process. Often spreadsheet-bound, one survey suggests that as much as 20% to 30% of senior management time is locked up in the budget process, equating to 25,000 man-days a year in a billion dollar company. 1 To add ‘insult to injury’, the typical budget is already out of date by the time it has been finalized2. Gary Simon, FSN’s managing editor asks what is wrong with the current budget process? And is it really feasible to cut budget timescales in half? High error, omission and delay levels For many organisations the budget cycle commences with the preparation of a series of spreadsheet templates at the corporate centre which are distributed via email to budget holders across the enterprise to complete and return. But the approach has formidable shortcomings, not least of which are the high incidence of errors, the lack of process visibili Less