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Article: Who needs budgets? You do. Your budgeting process can target information that needs to flow within your organization and to your B2B partners.(Budgeting)
- Article from:
- Strategic Finance
- Article date:
- August 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 Institute of Management Accountants. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BUDGETS AREN'T JUST ABOUT THE NUMBERS. They're about communicating vital information within the organization. And in the very near future, the budgeting function in your organization may be called on to serve as a role model for communicating information in business-to-business (B2B) collaborative planning processes.
Budget bashing has become a popular topic and has even led to the suggestion that budgets are outdated and no longer needed, but don't be too hasty in advocating that your organization dump its budgeting process. Although such a position might make you popular with some colleagues, it isn't in your organization's best interests. The reason? The most ...