An annual planning process is not worth more than two weeks of effort, so why are we spending months on it? Quotes David Parmenter
Companies in Asia, Europe, the US, Australia and New Zealand are recognising that the existing annual planning process cannot continue. It has been with us since the Roman calendar was adopted by the West and is now seen by many as a hindrance to management rather than a help. An international survey found that nearly 90% of CFOs were dissatisfied with their annual planning process.
What CFOs and management accountants need to know is how to cut the time out of the existing annual planning process and at the same time prepare the way to managing the business in a more appropriate way.
Existing annual planning processes encourage budget holders to be dysfunctional, undermines the reporting regime as the monthly budgets have no relevance, and involves management in a three month period where management are taken away from making money.
These 3 *90 min webinars are based on David Parmenter’s first section of his ground breaking book “The Financial Controllers and CFO’s Toolkit” which covers the better practices from “winning” finance teams around the world.
Around the world some exceptional corporate accountants have questioned the status quo and implemented practices that have revolutionised the value the corporate accounting team can generate. These successful corporate accountants spent more time in the 20% of issues that really matter and have been ruthless with the time the team spends on the 80% of issues that are less important. In other words they apply Pareto’s principle.
- the flawed logic of the traditional planning process ( setting budgets at account code level, setting monthly budgets too soon etc)
- the foundation stones of a quick annual planning process
- the two week process – step by step
- a checklist to get this done
- how to implement this within existing system constraints
- how to set monthly targets which are more meaningful to BHs, Management and the Board
- selling strategies to move to a two week annual planning cycle
- CEOs, GMs, finance directors, CFOs or financial controllers who want to an efficient annual planning process
- Financial accountants and management accountants working on the annual planning process
Benefits of attending:
Upon attending you will be able to:
- understand and apply the building blocks to radically shorten your annual planning process to 2 weeks!
- understand how monthly targets (budgets) can be set later
- sell this change based around the emotional drivers
- start the change process next week!
Event Organizers and Professional bodies
This course is now delivered via webinars. Please complete the enquiry form or email to firstname.lastname@example.org.
Booking an in-house course
David Parmenter is able to deliver webinars at short notice.