This measure calculates the approximate number of budget versions that are produced during the budget cycle before approval of the final budget. It is part of a set of Process Efficiency measures that help companies optimize their "perform planning/budgeting/forecasting" process by minimizing waste and refining resource consumption.
Number of budget versions produced before final approval
Process efficiency represents how well a process converts its inputs into outputs. A process that converts 100% of the inputs into outputs without waste is more efficient than one that converts a similar amount of inputs into fewer outputs.