We all know the methods used to create favorable departmental budgets and forecasts: Managers ask for more than what’s required with the hope of agreeing on the budget they actually want; junior managers promise unprecedented results in exchange for executive support and an investment in their new ideas; and of course, the seasoned, senior managers warn of significant consequences to the company if their specific budget is cut.
This negotiation process is nothing new to the business world. It’s been going on for decades. This is not strategic management. But the best-run organizations have learned that there’s a much better way to do it — one that completely removes the politics and horse trading from the process: Using rolling forecasts with a strategic management tool.
What’s inefficient, hinders corporate progress, and stifles productivity? You guessed it—the financial budgeting process.
In an era where the modern CFO is steadily emerging as a strategic force—armed with real-time data and game changing insights—it’s clear that old-school, static budgeting procedures just don’t make the cut. An active budgeting process, on the other hand, is collaborative, comprehensive, and continuous—and can increase buy-in and accountability throughout the organization.
Guest blog by Kevin Bradshaw, Finance Director, Gentiva
I know first-hand that all growing businesses have to go through growing pains, even if that business has been around for more than 40 years.
Such was the case with Gentiva, a company that has steadily grown through a series of acquisitions since 1971 and now includes more than 400 U.S. locations.
Each acquired branch of Gentiva brought with it a unique set of financial processes and tools. Having been a part of the company’s finance team for the last six years – first as a business analyst, then as a senior financial analyst, and now as a finance director – I’ve seen Gentiva grow and add several tools for financial budgeting and reporting along the way.
The Wizard Bar at Adaptive Live is one of many exclusive benefits for customers who attend our annual worldwide user conference. By registering for the event and then reserving a 30-minute, 1:1 session with an Adaptive Insights Wizard (technology expert), you’ll be able to ask and get answers to questions about your specific Adaptive model.
One of our Adaptive Live 2015 Wizards is Senior Staff Solution Architect Juan Maldonado, who has some valuable advice on how to prepare for a Wizard Bar session in this exclusive Q&A.
Each New Year marks the inevitable onset of new trends, jump-starting the unofficial task of establishing a new set of do’s and don’ts. In 2014, some projections focused on the impact of skyrocketing mobile usage on businesses, Bitcoin’s volatile but consistent growth, and how user-driven marketplaces would continue to flourish as venture potential. Others concentrated on predicting the growth rate of the overall cloud market, the changing role of cloud service providers, and how much companies would spend on big data analytics.
And as is the nature of trends, the idea of what will be impactful in 2015 most definitely differs from what was considered influential in 2014. In a Fortune Magazine column last week, Sergio Monsalve of Norwest Venture Partners, an Adaptive Investor, offered his predictions as to which technology megatrends will define 2015. Adaptive Insights Senior Director Paul Turner also weighed-in with his 2015 cloud industry forecasts.
Here’s what we think are the five of their most interesting trends to track throughout 2015. You can find the full set of predictions from Paul and Sergio in the Adaptive News Section.
Click on the image to download the new Adaptive Discovery eBook!
There are several tools designed to help people learn about the new Adaptive Discovery features included within our latest product release. A press release. A two-part blog series. Third party industry articles.