In 2014, Deloitte reported that 80% of organisations spent eight weeks or more on annual budgeting. Yet despite this significant time commitment, the most obvious and basic aspects of risk management/mitigation are often not explicitly integrated into the budgeting process.
Now, nearly five years on, CFO’s and business managers still confront a number of unknowns when making decisions around budget initiatives and business plans. Factors such as the size of the business opportunity, the way competitors are exploiting the market or the availability of talent to drive the initiative are often unknown. At Norman Broadbent, our Research & Insight Practice provides clients with hard facts and additional information to help ‘de-risk’ their budgets/business plans.