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TRG Blog

What to look for in corporate budgeting solutions

Posted by Nhi Huynh on

When it comes to budgeting, the traditional method used is spreadsheets. However, over the years, spreadsheets have demonstrated themselves to be insufficient to handle budgeting in the ever changing business world. Hence, dedicated corporate budgeting solutions were born to deliver the accuracy, agility and responsiveness that companies so desire. A powerful budgeting solution should help businesses adopt budgeting best practices, such as:

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Topics: Planning and Budgeting, Infor CPM, Talent Management, Corporate Performance Management CPM, Financial consolidation, planning and reporting, Financial Accounting Management Software

What to look for in corporate budgeting solutions

Posted by Nhi Huynh on

When it comes to budgeting, the traditional method used is spreadsheets. However, over the years, spreadsheets have demonstrated themselves to be insufficient to handle budgeting in the ever changing business world. Hence, dedicated corporate budgeting solutions were born to deliver the accuracy, agility and responsiveness that companies so desire. A powerful budgeting solution should help businesses adopt budgeting best practices, such as:

Read More…

Topics: Planning and Budgeting, Infor CPM, Talent Management, Corporate Performance Management CPM, Financial consolidation, planning and reporting, Financial Accounting Management Software

Step-by-step guide to budget and strategy alignment

Posted by Thai Pham on

Given the strategic planning best practices, it is obvious that the creation of a good plan requires far more than just collecting a set of financial estimates. To achieve a budget and strategy alignment, use the following six steps:

Read More…

Topics: Planning and Budgeting, Infor CPM, Talent Management, Corporate Performance Management CPM, Financial consolidation, planning and reporting

Step-by-step guide to budget and strategy alignment

Posted by Thai Pham on

Given the strategic planning best practices, it is obvious that the creation of a good plan requires far more than just collecting a set of financial estimates. To achieve a budget and strategy alignment, use the following six steps:

Read More…

Topics: Planning and Budgeting, Infor CPM, Talent Management, Corporate Performance Management CPM, Financial consolidation, planning and reporting

Budgeting best practices

Posted by Thai Pham on

To many radical thinkers, the shortcomings of the traditional budgeting approach  have made the process unviable. In reality, however, budgeting still plays a significant role. Therefore, to neutralise the arguments for and against traditional budgeting, companies should follow six budgeting best practices:

Read More…

Topics: Planning and Budgeting, Infor CPM, Talent Management, Corporate Performance Management CPM, Financial consolidation, planning and reporting, Financial Accounting Management Software

Budgeting best practices

Posted by Thai Pham on

To many radical thinkers, the shortcomings of the traditional budgeting approach  have made the process unviable. In reality, however, budgeting still plays a significant role. Therefore, to neutralise the arguments for and against traditional budgeting, companies should follow six budgeting best practices:

Read More…

Topics: Planning and Budgeting, Infor CPM, Talent Management, Corporate Performance Management CPM, Financial consolidation, planning and reporting, Financial Accounting Management Software

Best practices in strategic planning

Posted by Rick Yvanovich on

Most organisations have plans. There is, however, a huge difference between a good plan and a bad plan. A bad plan, for example, is one that consists only of costs and revenues. This plan provides no guidance for the organisation regarding how it is to achieve the revenue targets. There is no linkage between the high level goals and the day-to-day activities necessary to achieve them.

Read More…

Topics: Planning and Budgeting, Infor CPM, Talent Management, Corporate Performance Management CPM, Financial consolidation, planning and reporting

Best practices in strategic planning

Posted by Rick Yvanovich on

Most organisations have plans. There is, however, a huge difference between a good plan and a bad plan. A bad plan, for example, is one that consists only of costs and revenues. This plan provides no guidance for the organisation regarding how it is to achieve the revenue targets. There is no linkage between the high level goals and the day-to-day activities necessary to achieve them.

Read More…

Topics: Planning and Budgeting, Infor CPM, Corporate Performance Management CPM, Financial consolidation, planning and reporting

Traditional budgeting approach: advantages and disadvantages

Posted by Rick Yvanovich on

Among the most fervent opponents of a traditional budgeting approach are supporters of the Beyond Budgeting movement, who have listed several drawbacks of traditional budgeting. Four main ones are discussed here:

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Topics: Planning and Budgeting, Infor CPM, Corporate Performance Management CPM, Financial consolidation, planning and reporting, Financial Accounting Management Software

The role of budgeting in corporate performance management

Posted by Thuy Tien Tran on

According to a study by Hackett Benchmark, companies spend on average 25,000 man days on planning and performance measurement per US$ 1 billion turnover. Another study by KPMG suggests that the budgeting process takes up 20-30% of managers’ and controllers’ time. Moreover, consultants at Horvath & Partner in Germany note that controllers spend at least 50% of their capacities on planning and budgeting. 

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Topics: Planning and Budgeting, Infor CPM, Corporate Performance Management CPM, Financial consolidation, planning and reporting

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