The model should embrace much more than just budgeting, it is more a philosophy of decentralization and a way of encouraging managers at all levels to become accountable for their performance without tying them to an annual budget straitjacket.
In addition, benefit from faster and more adaptive decision-making, reduced bureaucracy and lower costs. The companies became more competitive and customer satisfaction improved along with many of the company’s’ KPI’s (Key Performance Indicators).
Replace annual budgeting and centralized control systems with, multilevel controls that include effective governance,
Fast financial actuals
Trend analysis
Rolling forecasts
Key performance indicators (KPI)
Performance ranking…