In this article, the author examines seven technological and information enablers that help drive the success of Beyond Budgeting.
The interest in Beyond Budgeting is today record high, and the model is updated and refined. Beyond Budgeting is adopted by more and more organisations around the world, is taught at business schools, and has a vibrant global community.
In this video, you can learn more about their Beyond Budgeting journey from Guillaume Verbiest, Head of Finance Transformation and Performance Management.
The traditional budgeting process is short-term focused, causes unnecessary control and bureaucracy and results in a conflict of interest. For most present-day organisations, Traditional Budgeting is no longer fit for the task.
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Budgets were invented in the Industrial Age as an efficient management tool. So why in this day and age of VUCA, most of the organisations around the world are still so hung up on traditional budgeting?