A big thank you to everyone who joined us this week at the Q3 CFO Alliance Roundtables in San Francisco and Washington, D.C.! 🙌 We had some incredible discussions around Budgeting and Planning Readiness for 2025, and I wanted to share a few key takeaways that emerged from these sessions.
We kicked off with the "duck analogy": As CFOs, we need to be calm on the surface, but paddle like hell beneath the surface to manage the budgeting process. It’s all about keeping that balance between visible composure and behind-the-scenes effort. We appreciate the inputs from our partners, First Water Finance, Planful, Oracle NetSuite, Rho, AssuredPartners, Homestead Smart Health Plans and AchieveNEXT
Here are a few other highlights:
1. Zero-Based Budgeting vs. Bottom-Up vs. Top-Down – Different approaches, but the key is understanding what works best for your organization’s needs.
Scenario Analysis – When analyzing multiple scenarios, focus on identifying and understanding your key drivers. But do we need to budget for every single scenario?
2. Payroll & Guardrails – When payroll becomes a major budget component, it’s critical to set clear guardrails for each function to keep costs in check.
"Uncommunicated expectations are premeditated resentment." – A reminder that clear communication across the organization is essential for accountability and success.
3. Tough Questions for Growth – As CFOs, we need to ask: What has or will change to achieve the growth our CEOs are aiming for in the budget?
Detailed Assumptions – Ownership and detail in your assumptions are key. Every stakeholder should have a say, and more importantly, understand their role.
4. Why the Same Struggles? – Many CFOs voiced frustration over revisiting the same budgeting challenges year after year. It's time to find solutions that truly stick.
5. Communication & Accountability – Getting people within your organization involved in the process is crucial, but even more important is making them accountable for their numbers.
These roundtables were full of actionable insights to improve our budgeting processes for 2025. Let's keep the conversation going, stay calm on the surface, and tackle the tough questions together! Contact us at www.cfoalliance.com
Do you feel like a duck?
#CFOAlliance #Budgeting2025 #PlanningExcellence #FinanceLeadership
