"Not to beat about the bush, but the budgeting process at most companies has to be the most ineffective practice in management. It sucks the energy, time, fun and big dreams out of an organization. In fact, when companies win, in most cases it is despite their budgets, not because of them."
These are the words of Jack Welch, the former General Electric chairman, in his best-selling book, Winning. He is not alone. More and more CFOs at American companies are reaching the same conclusion.
As a result, they are following their European brethren in adopting rolling forecasts while moving away from the traditional budgeting process that many view as flawed and counterproductive.
More and more, North American companies ask about rolling forecasts and whether their BPM system can accommodate them.
Source: CRM Buyer