Traditional budgeting can be too backward-facing and it doesn’t present nearly enough information about what the company’s targets are or how it will meet them.Perhaps one solution is to replace them.
Doing away with traditional budgeting is a radical step which you might imagine would face a lot of internal resistance. We spoke to Anders Reinhardt head of global business intelligence for VELUX about how they made the radical step from traditional budgeting towards a rolling forecast. Anders outlines the challenges they faced, the technology involved and how the company worked to gain support for their change.
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