Solid presentation on how to improve communications in the budget cycle

1. BudgetPak … XLerate your budget process BUDGETING IS AS MUCH A COMMUNICATION EXERCISE AS IT IS A FINANCIAL ONE

3. The first budget?

4. Where are we now?

6. What can be done?

9. Why do we budget?

10. What is Communication? Sending Receiving Understanding

11. Efficiency vs Effectiveness

12. What if nothing changes? Managers not being fully informed of budget decisions and, therefore, not keeping to their budgets. Department level lack of budget responsibility. I didn't know we were making cuts...Where are my positions? Lack of alignment Budget plans not aligned with mission Budget accuracy is not in control; 'fire drill' type of reactions to issues identified too late to be effectively addressed, etc Dissatisfaction with overall process & lack of resources in budget. Not everyone pulling in the same direction. Missed objectives... No alignment between the teams Just making sure everyone is on the same page and understands the numbers Lack of ownership & Accountability Poor budget decisions Strategic planning is not linked to resource allocation

15. Communication as an Excuse?

16. Lost in Translation Budget Template ?

17. Language Barriers Impede Communication

18. Budget Templates Are Poor Communication Tools

19. Financial Control vs User Flexibility

22. Trivial recommendations = Think about it Trivial results

23. 1) Active engagement from line managers. 2 Principles 2) We have to understand and meet their needs.

25. Involve your users

27. You need a Rosetta Stone

28. You need a Rosetta Stone Strategic Initiatives Marketing Campaigns Events Programs IT Projects, Training Programs, One-Offs

30. Justification & Detail Leases

32. Flexibility AND Control Confidence Credibility

34. www.XLerant.com 203/328-3787

35. Warehouse slides beyond this point

36. The end of the spreadsheet mindset

37. XLerant, Inc.

38. Financial Control vs User Flexibility

39. Justification & Detail Software Maintenance Agreements

40. Ted Notes

42. Example Production Costs Talent Television Advertising Professional Fees 2010

43. Training

44. Efficiency vs Effectiveness

45. Lost in Translation

46. Lack of Training Budgeting 101

47. What can be done?

50. What should we change?

51. What is Communication? Sending Receiving Understanding

52. BudgetPak … XLerate your budget process BUDGETING IS AS MUCH A COMMUNICATION EXERCISE AS IT IS A FINANCIAL ONE For those who know there’s something wrong

53. What is Communication? Sending Receiving Understanding

54. You need a Rosetta Stone MASTER TEMPLATE INITIATIVE

58. Flexibility AND Control USERS WANT FINANCE WANTS “ Budget for initiatives, projects, events, etc.” All special spending should automatically feed into a department’s overall budget without having to write Excel formulas like = Link Everything’s got to properly tie out Must be able to see the initiative spending discretely, but then see the entire department budget.

59. Flexibility AND Control USERS WANT FINANCE WANTS “ Create a budget for an account by buildit it up (example: Software Maintenance by vendor).” 100% assurance that the detail adds up properly (e.g. the summation of the detail is accurate) 100% assurance that by adding line item detail, no other calculations were broken

60. Flexibility AND Control USERS WANT FINANCE WANTS “ To be able to play around with multiple “sandbox” versions of their budget before deciding on which one to submit for formal review and approval.” One version of the truth “ No debate” on which version was submitted as final

61. You need a Rosetta Stone Strategic Initiatives

62. You need a Rosetta Stone Marketing Campaigns

63. You need a Rosetta Stone Events

64. You need a Rosetta Stone Programs

65. You need a Rosetta Stone IT Projects, Training Programs, One-Offs

66. Involve your users

67. What can be done?