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This practice, known as zero-based budgeting, may be useful for companies looking to align spending with business goals. And with the right tools coupled with an agile, active planning model, companies might want to consider this approach to material expense accounts.
What is zero-based budgeting?

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 2021. For many businesses, COVID-19 has fundamentally changed expense structures. Travel and entertainment (T&E),… Read More

Integrating a rolling financial forecast rather than relying on a static budget allows businesses to increase their agility and more accurately plan for the future.
How rolling financial forecasts increase business agility

In a volatile, ever-changing market as we are now experiencing with the pandemic, businesses must be nimble to survive—if not thrive. Yet many companies still use outmoded financial systems to track progress and predict success. They rely on static budgets that are updated just once a year and quickly become… Read More

Technological advances, ever-increasing customer expectations, and smarter, data-driven decision-making put pressure on finance teams to find new ways to operate with agility. But how do you plan in a way that allows you to respond to such events, from the predictable to the unlikely? The answer begins—and ends—with active planning.
3 key steps on your journey to business agility

Throughout the world, businesses of every size are feeling firsthand the impacts of instability. In a time of uncertainty, surviving and thriving comes down to how promptly your business can identify disruptive changes and proactively respond to them. That’s not so easy when your business is mired in outdated, static planning processes—characterized… Read More