Budgeting Cycle Time Is a Driver of Process Cost

Published On:
April 25, 2017
Authored By:
Mary Driscoll
Members-Only Content:

Total cost to perform the process ''perform planning/budgeting/forecasting'' per $1,000 revenue is correlated with cycle time in days to complete the annual budget. Top performers in total cost have a lower cycle time in days to complete the annual budget than bottom performers. As total cost decreases, cycle time in days to complete the annual budget decreases.  The role of best practices in business process management rings very true in this instance.

Type:
Articles
Topics:
Planning, budgeting, and forecasting, Finance and Accounting, Budgeting

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