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(From Financial Director)
Byline: Malcolm Wheatley.
Late. Uninformative. Disorganised. Scratch an FD, and you'll often hear their company's budgeting process described in such terms.
Poke a little further into budgeting practice, and more unflattering descriptions emerge. "Budgeting simply takes too long, demands too much detail, is too expensive and requires too much effort expending on it," believes Jacky Poss, a director with IBM Business Consulting Services, formerly PricewaterhouseCoopers' consulting division.
And while businesses have spent a fortune on computer software over the past decade, little of that expenditure has been ...