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Going Beyond Budgeting
Report

Going Beyond Budgeting

CFOs say it’s finally time to slay the three-headed corporate budgeting monster.



Editorial Rating

8

Qualities

  • Applicable
  • Overview
  • For Experts

Recommendation

The ravages of COVID-19 on company balance sheets have opened executives’ eyes to the need for new approaches to budgeting and forecasting. Current processes often misalign incentives and force rigid decision making. Financial experts Sebastian Stange, Bjarte Bogsnes and Hardik Sheth explore a new process, “Beyond Budgeting,” that spurs agility, transparency and delegation within a customer-centric enterprise. Finance managers will find this a practical guide to better budgeting.

Take-Aways

  • Traditional budgeting encompasses three central but contradictory goals.
  • “Beyond Budgeting” offers a planning process that addresses objectives separately.
  • Adopting a new budgeting approach is an ongoing process rather than a one-off event.

About the Authors

Sebastian Stange is a partner and an associate director of corporate strategy at Boston Consulting Group. Bjarte Bogsness is chairman of the Beyond Budgeting Roundtable. Hardik Sheth is a partner and associate director of the Center for CFO Excellence.