1st October 2014
Budgeting, planning and forecasting is a collaborative exercise, especially in a matrix’d management structure that requires a consensus approach. In broad terms, the more participants in the process, the more diverse the functional areas from which they are drawn and the closer the individuals are to the sharp end of the business, the more likely it is that forecast outcomes will be realistic and dependable. But for most organizations, the collaborative, high participation approach has remained surprisingly elusive. Up until now, the technology underpinning a more collaborative process has not been up to the job, but the tide is changing, says Gary Simon, FSN’s managing editor.
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