This article focuses on the importance of budgeting. Budgeting is a topic that is not very popular in many organizations, and it can be an extremely time-consuming project for many employees. This is why it is important to communicate the significance of a budget to all employees so they take pride and ownership of it. A tip is to not make complex templates as the goal is an estimate for the coming year. If employees can’t have small variances, then they will make decisions that only impact their results against the budget and not what is in the best long-term interest of the organization. The goal of a budget should be to give an approximate estimate of how the company will do in the com
More and More Companies Are Trusting the Cloud With Their Data According to a recent Forbes article, Cloud revenue in the second quarter of 2018 grew at amazing rates for Microsoft, IBM, and SAP. Companies are spending billions of dollars to move their core business applications to the Cloud. These are not just the mundane applications that calculate depreciation on equipment we are talking about. Companies are moving their entire sales processes to the Cloud where the most sensitive customer information resides. I thought it was unsafe to have customer data in the Cloud I still am on calls today where my clients say they are very concerned about the safety of their customer data. They wo
How to Build a Corporate Performance Management Solution Let’s talk about strategy and goals. There are many reasons for communicating strategy but very few organizations include strategy as part of the planning process. The managers and employees who are involved in the budgeting and forecasting process should know the strategy and goals prior to planning, but it also should be front and center while entering the data. A goal of the company should be to provide the strategy and goals prior, during, and after entering data. Corporate The first step is to define the organization. This includes the organization’s purpose, core values, and the company goal. Some of these may not change over t
