Forecasting is More Important Than Operational Budgeting for For Business Success.
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Forecasting is Replacing the Budgeting  Dinosaurs SiteMap

According to a survey of finance executives budgets become obsolete for decision making very quickly:

  • 27% of budgets are obsolete before the year starts
  • 68% of budgets are obsolete by June for calendar year organizations

Wikipedia defines

Forecasting is the process of making statements about events whose actual outcomes (typically) have not yet been observed.

Forecasting can be for time periods longer than or shorter than one year

  • Semi-annual
  • Quarterly
  • Monthly
  • 5, 10, 20 years

Forecasting is increasing in importance and budgeting is decreasing in importance because of

  • Sand bagging by executives to ensure their bonus
  • Obsolesce of budget even before year starts
  • Large time commitment on budgeting with a low return

Call John Antos at 972.980.7407 to find out how Forecasting can help you achieve your goals.

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