Tactical Issues and Best Practices

Overview

Ask most CFOs and finance directors to describe an ideal forecasting and budgeting process, and they'll likely portray it as part of an overall integrated performance management framework, ultimately driven by value-based measures. At the same time, however, they'll admit that this vision involves a significant transformation to their current forecasting and budgeting processes, systems, and organization. The good news is that tactical solutions deliver significant and usually exponential benefits. As with any longer-term solution, successful tactical initiatives also require strong executive sponsorship, a robust and proven approach, a persuasive business case, and a significant change to the way the organization views and operates the forecasting and budgeting process.