How the Pandemic Broke Traditional Budgeting and What to Do Now
1 Hour(s) - CPE Credit(s)
Does your organization often find itself trapped in an operating budget developed for an expected future that is NOT going to happen? What do you do when reality strikes, and all those hours spent negotiating targets have been overcome by uncertainty? This was the reality for many organizations in 2020 as the pandemic broke their traditional budgeting process. But it is even worse than that because 2021 looks just as chaotic and uncertain.
This session will quickly show you how current budgeting practices (which are still based on concepts from the 1920s) are permanently broken. Even better it will show you how leading-edge companies have already found and implemented new ways to plan effectively in the 21st century. Come see how to develop a Future Ready FP&A function.
To move from broken to Future Ready, attendees will:
- Identify outdated budgeting practices that no longer work and understand why.
- Determine the best practices to plan effectively in the 21st century and beyond.
- Study how to develop an excellent FP&A function.