Budget season is well underway and there isn’t a doubt that it is a long protracted and tiring exercise for all departments involved. But what can we do to prevent budget season woes?

But what are the key elements to a smooth and successful budget season?

  • Timetable & Planning
  • Executive Expectations
  • Metrics & Drivers
  • Communication & Training

Timetable & Planning

Lets face it, the key to a good budgeting process is a clear understanding of the overall timetable. Remember to include all phases of the budgeting process including time for decision making by executives.

Executive Expectations

Going into a budget season where expectations are unclear is a recipe for disaster. Getting a clear direction from the executive team is key to build into your metrics and drivers and ensure the roll-up meets expectations.

Metrics & Drivers

Metrics and drivers can be a key way of ensuring consistency in approach for budgeting, expectations can be managed on elements such as inflation and pay awards.

Communication & Training

As an FP&A function, you may have a good idea of expectations and the inputs for the budgeting process, but engaging with the wider business and training external teams that get involved can be a key to budgeting success.


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