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.
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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.