A budget expresses thoughts with numbers. Numbers can be financial like income and cash flow or non-financial like time and volume. Expressing thoughts with financial and non-financial numbers can be done through a variety of methods. One method is zero based budgeting which like all methods has strengths and weaknesses. The purpose of this article is to examine the strengths and weaknesses of zero based budgeting.
The 6th meeting of the Dubai FP&A Board took place on November 20, 2019 at “The H Hotel, Sheikh Zayed Road, Dubai”. The weather was stormy and rainy but still 30 Senior Finance and Business professionals participated at the meeting. The Dubai FP&A Board was proudly sponsored by Michael Page, Jedox, and Azdan.
On September 19, 2019, New York welcomed the 6th FP&A Board conference at the Michael Page office in midtown Manhattan. Thirty senior FP&A professionals attended the event sponsored by SAP and Michael Page to discuss and share their experiences on Zero-Based Budgeting (ZBB).
These notes were made during the 9th meeting of the FP&A Circle in London. The notes are a mixture of comments and thoughts made by those who presented the case studies.
The 7th Amsterdam FP&A Board was held to discuss and answer questions such as: What is Zero-based budgeting? Who is using it in their day to day practice, and to what extent? What are the benefits and challenges in implementing ZBB?
In February 2019, the International FP&A Board held two meetings in Switzerland. The ninth Geneva FP&A Board and the eighth Zurich FP&A Board gathered more than 30 senior finance professionals each.