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Zero-based budgeting is a method of preparing budgets without carrying over numbers from previous years. Because it requires budget owners to start from scratch, they must review and justify every line item. Zero-based budgeting is not only a cost-reduction strategy, but a shift in mindset, forcing leaders to question entrenched habits and historical assumptions. Questioning old processes may be especially important now as we navigate the many unknowns this global pandemic has introduced.
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Zero-based budgeting: best practices for FP&A teams

Many businesses are shifting into recovery mode after the economic disruption caused by COVID-19. While it’s too soon to divine the lasting implications of this pandemic, most organizational leaders anticipate there will be echoes well into the the forseeable future. For many businesses, COVID-19 has fundamentally changed expense structures. Travel… Read More

On the other hand, cloud-based enterprise planning enables public sector organizations like yours to generate data-driven budgets and forecasts, deliver higher-level reporting, and access real-time data that supports collaborative and strategic decision-making on the fly—and for the long-term. In an active planning environment, organizations streamline reporting and access real-time data to quickly address unexpected changes and plan for what’s next.
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Amidst constant change, agility is key for public sector organizations

Thriving in an unpredictable environment requires agility. But yesterday’s forecasting, budgeting, and planning systems aren’t fast, powerful, or accurate enough to keep up with changing regulations, funding levels, and program demand. On the other hand, cloud-based enterprise planning enables public sector organizations to generate data-driven budgets and forecasts, deliver higher-level… Read More

Many companies still rely on spreadsheets to do budgeting and planning, and finance departments struggle to compile multiple spreadsheets and consolidate data across the company. Even worse, most spreadsheets contain serious errors, often due to broken links and data integrity issues. Plus, they don’t easily scale, and they’re not secure.
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Refresh your budgeting process in three easy steps

Disruptive technology is a popular term. No matter how long companies have been in business, many claim that their technology, platform, or business will completely disrupt whatever industry it’s in. That’s all well and good. But what most organizations should disrupt are their budgeting processes. Here are five ways to refresh your… Read More

Considering all that’s happened over the last year, the case for robust scenario planning has rarely been stronger. Scenario planning—the practice of establishing strategies for variables in key business factors—helps organizations thrive amid uncertainty. To put it simply, scenario planning arms finance with the ability to incorporate responses as changes happen.
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Scenario planning: Your crystal ball for variable futures

Considering all that’s happened over the last year, the case for robust scenario planning has rarely been stronger. Scenario planning—the practice of establishing strategies for variables (possible futures) in key business factors—helps organizations thrive amid uncertainty. To put it simply, scenario planning arms finance with the ability to incorporate responses… Read More