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Creating a culture of accountability The budget should be a numerical expression of the strategy – In your dreams Creating a culture of accountability The budget should be a numerical representation of the strategy – In your dreams November 18, 2010 Ted Dacko Jack Mastrianni Lawrence Serven
Who we are and why we’re here The Problem Proposed Solutions Next Steps Agenda
Who we are (panelists)
We Believe Who we are (XLerant)  We believe that Excel and Excel look-alike products are not what users want nor need We believe that budgeting is as much a communication process as it is a financial one We believe that the financial plan should specifically tie to and support the strategic plan We believe in making the complex appear simple We believe in the balance between financial control, user flexibility and IT standards We believe that budgeting can be done so that department managers can budget for themselves We believe that no one should ever have to say: “That’s not my number”
What is a Strategy? Strategies are the intentional choices ( means ) …  that an organization employs in order to achieve their goals ( ends )
What is a budget? Christopher Van Wyk, Ph.D. Drew University The budget should be a financial representation of the strategy.
Creating a culture of accountability I own the numbers I own the strategy I own the results
Poll: Rating the connection today 100% 75% 50% 25% 0% How much of your strategy is visibly reflected in your financial plan/budget today?
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Agenda
Problem Description It’s pretty simple We are not budgeting to strategy, we are budgeting to history or politics or something else Strategy and the budget quickly part company
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Agenda
Reasons for the problem ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Poll: What’s your situation? ,[object Object],[object Object],[object Object],[object Object],[object Object],What are the reasons holding your organization back?
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Agenda
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Consequences – The Circle of Doom
Who we are and why we’re here The problem Proposed Solutions Next Steps Agenda
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Proposed Solutions
1 of 10: Develop an actionable strategic plan ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
2 of 10: Strategy Must Be Clear, Concise and Compelling AND Owned ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
3 of 10: Build consensus & support “ The financial plan should be the numerical representation of the strategy” ,[object Object],[object Object],[object Object]
4 of 10: Develop specific initiatives to achieve the strategy ,[object Object],[object Object]
5 of 10: Set goals for each initiative (think SMART) 16% 6% 2% .9% 6.2% 3.1% 4% 1.7% ,[object Object],[object Object],[object Object]
6 of 10: Allow users to budget for the initiatives (not just COA) ,[object Object],[object Object]
7 of 10: Establish clear accountability ,[object Object],[object Object],[object Object],[object Object],[object Object]
8 of 10: Assure cross-departmental alignment ,[object Object],[object Object]
9 of 10: Ask the hard questions ,[object Object],[object Object],[object Object],[object Object]
10 of 10: Assign clear roles to the budget & strategy managers ,[object Object],[object Object],[object Object],[object Object]
and remember: Perfection is the enemy of the good
Who we are and why we’re here The Problem Solutions Next Steps Outline Agenda
Recommended Reading
More Recommended Reading
Next steps ,[object Object],[object Object],[object Object],[object Object]
Poll: What’s your feedback? ,[object Object],[object Object],[object Object],[object Object],[object Object],What’s your feedback on the webinar?
www.XLerant.com 203/328-3787

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X Lerant Presentation On Integrating Strategy And Budgeting Pdf

  • 1. Creating a culture of accountability The budget should be a numerical expression of the strategy – In your dreams Creating a culture of accountability The budget should be a numerical representation of the strategy – In your dreams November 18, 2010 Ted Dacko Jack Mastrianni Lawrence Serven
  • 2. Who we are and why we’re here The Problem Proposed Solutions Next Steps Agenda
  • 3. Who we are (panelists)
  • 4. We Believe Who we are (XLerant) We believe that Excel and Excel look-alike products are not what users want nor need We believe that budgeting is as much a communication process as it is a financial one We believe that the financial plan should specifically tie to and support the strategic plan We believe in making the complex appear simple We believe in the balance between financial control, user flexibility and IT standards We believe that budgeting can be done so that department managers can budget for themselves We believe that no one should ever have to say: “That’s not my number”
  • 5. What is a Strategy? Strategies are the intentional choices ( means ) … that an organization employs in order to achieve their goals ( ends )
  • 6. What is a budget? Christopher Van Wyk, Ph.D. Drew University The budget should be a financial representation of the strategy.
  • 7. Creating a culture of accountability I own the numbers I own the strategy I own the results
  • 8. Poll: Rating the connection today 100% 75% 50% 25% 0% How much of your strategy is visibly reflected in your financial plan/budget today?
  • 9.
  • 10. Problem Description It’s pretty simple We are not budgeting to strategy, we are budgeting to history or politics or something else Strategy and the budget quickly part company
  • 11.
  • 12.
  • 13.
  • 14.
  • 15.
  • 16. Who we are and why we’re here The problem Proposed Solutions Next Steps Agenda
  • 17.
  • 18.
  • 19.
  • 20.
  • 21.
  • 22.
  • 23.
  • 24.
  • 25.
  • 26.
  • 27.
  • 28. and remember: Perfection is the enemy of the good
  • 29. Who we are and why we’re here The Problem Solutions Next Steps Outline Agenda
  • 32.
  • 33.