Best of 2010: Budgeting and PlanningPublished May 9, 2011 @ 15:40 by Andreja in Industry News
CFO.com has a great article that reviews how budgeting and planning continued to challenge CFOs and their finance teams in 2010.
Budgeting and planning were especially challenging in 2010, as CFOs contended with an uncertain economy.
Budgeting and planning continued to challenge CFOs and their finance teams in 2010. Although revenue stabilized at many companies, worries about demand and when (or whether) it would return to prerecession levels plagued finance chiefs all year. Many finance chiefs sought new ways to get better data from their businesses and improve the planning process, while those whose companies had regained their footing began searching for the best path to renewed growth.
CFO presented stories of struggles and successes with budgeting and planning throughout the year, ranging from a detailed look at how companies are overhauling the budgeting process ("From Adversity, Better Budgets") to an in-depth case study on scenario planning ("Alternate Realities").
From Adversity, Better Budgets
Tempted to abandon budgeting altogether, companies have instead taken it to a new level.
Ready, Set, Grow?
Deciding how (and when) to reinvigorate growth now ranks as a CFO's biggest challenge.
No Longer by the Book
An old-school textbook publisher learns some new forecasting tricks as it adjusts to a changing economy.
A New Method at Method
How CFO Andrea Freedman helped overhaul the planning process at Method Products.
Responding to today's volatile environment, some companies are taking scenario planning to a new level.
Spending into a Headwind
In the middle of the Great Recession, two CFOs gambled on growth.
When Wal-Mart emptied its shelves, customers took their business elsewhere.