Case Study
Board-Level Budget Approval Process
- Matthew Edwards
Manufacturing
INDUSTRY
4,500
EMPLOYEES
$750M
ANNUAL REVENUE
Background
In preparation for a go-to-market sale process, our client engaged us to enhance the budget preparation process and board approval process to add credibility to their anticipated performance.
Objective
- Build budget that aligns top down strategies with bottoms-up manager level performance drivers
- Establish Executive and Board level communications to ensure budget adoption and approval
- Anticipate external review requirements to fortify credibility of budget and communications
- “Ledger-ize” budget activity for ease of comparability vs actuals
Solution
- Accumulated board level strategies for the 2023 year and aligned those to executive leaders
- Built base line and incremental performance budgets to communicate performance and strategy initiatives
- Built budget communication deck anticipating external review requirements
- Ledgerized the budget activity for load in ERP test environment
DRAMATICALLY INCREASED THE SOPHISTICATION AND CREDIBILITY OF THE BUDGET CREATION AND COMMUNICATION PROCESS.
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