About the Benchmark
Budgeting and planning is an area of finance that is long-established yet ripe for change. There is widespread dissatisfaction with the budgeting process. Nearly all business people regard it as a waste of time and resources. Typically, it eats up 10 to 15 percent of the finance organization’s time, and it takes five to eight months to complete the full cycle in large organizations. Worse, people usually view budgets as being out of date almost from the start and as having little or no strategic value.