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Should You Revisit Your Forecast as the End of the Quarter Approaches?

  Randy Miller, Partner, CFO Edge, LLC  
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  Article Summary  
Approaching the end of Q1, many Los Angeles and Southern California executives may discover first-quarter results are either significantly less or more than what they had budgeted. Both present their own sets of challenges: getting back on track for the former, and maintaining momentum and motivation for the latter.

Either scenario points to a common business problem: limitations in the traditional budgeting process.

This article discusses these limitations and then looks at a better budgeting approach known as “beyond budgeting” with rolling quarterly forecasts. Also reviewed are steps involved in the process of switching, as well as well-documented advantages of moving to this approach.

If your first-quarter results vary significantly from what you budgeted, you may be experiencing the limitations of traditional budgeting. Executives can benefit from working with an outsourced CFO services professional who has a proven record of transitioning traditional budgeting to the beyond budgeting approach with rolling quarterly forecasts.

You may also be interested in our complimentary four-page brief which examines this topic in greater detail. To learn more and download the PDF, click here: Year-End Strategic Planning & Forecasting: Now Is the Time for a New Approach.

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