BF_BUDGETING LINK_ Penton Media September 28, 2009 If you want to view this on the web go to: http://enews.penton.com/enews/businessfinance/v/226 ---------------------------------------- ADVERTISEMENT Visit IBM's Financial Performance Management Resource Center. http://ad.doubleclick.net/clk;218100160;41210136;c ---------------------------------------- TODAY'S ALERTS --How Northern Trust Weathered the Financial Crisis This past August, banking services firm Northern Trust Corp. announced that it had freed itself from the government's bailout program. Steve Player speaks with Steve Fradkin of Northern Trust about the intriguing final chapter of his CFO tour of duty. To view the full article go to: http://businessfinancemag.com/article/beyond-herd-0928 --Making Change Happen in Your Organization Many finance professionals want to make changes in their organization but struggle to actually do so. Here is a list of questions to help get the process started. To view the full article go to: http://bigfatfinanceblog.com/2009/09/21/making-change-happen-in-your-organization/ ---------------------------------------- ADVERTISEMENT To download the latest Partner Resources, please view the web version of the newsletter or visit businessfinancemag.com. ---------------------------------------- --Paying for Forecast Accuracy Costs More Than You Think As companies implement rolling forecasts to steer their organizations, they often also begin the practice of "paying for forecasting accuracy." While some experts advocate this approach, budgeting guru Steve Player calls it "one of the dumbest things management can do." Player explains why in this Big Fat Finance Blog post. To view the full article go to: http://bigfatfinanceblog.com/2009/08/31/dumb-stuff-to-avoid-paying-for-forecast-accuracy-is-a-lot-more-costly-than-you-think/ --Why Pay-for-Performance Compensation Is Problematic Pay-for-performance compensation is designed to motivate employees, but it actually rewards the managers who successfully negotiate the lowest levels of performance and execution through low budget targets. As a result, the management process drives subpar performance. Here's an alternative approach for setting incentive plan targets. To view the full article go to: http://bigfatfinanceblog.com/2009/08/24/incentive-compensation-under-rolling-forecasts/ --The Finance Challenge of Aligning the Business with Strategic Goals Philip Peck, Director and Practice Leader for CFO Services at Palladium Group, Inc., discusses the role of Finance in aligning financial and operation plans with strategic goals in this BPM Resource Center podcast. To view the full article go to: http://resources.bpmmag.net/index.html?action=viewSponsors&sponsorID=23 --BPM Summit Presentation: Why Go Beyond Lean Six Sigma and the Balanced Scorecard? The 6th Annual BPM Summit brought together some of the business world's foremost practitioners to explore the transformational role of finance in the enterprise. If you missed the live event, you can still enjoy access to the audio and slide shows from the keynote presentations at our on-demand archive. To view the full article go to: http://bpmmag.net/summit/2008/ ---------------------------------------- IBM http://ad.doubleclick.net/clk;218100160;41210136;c ---------------------------------------- Webcasts ---------------------------------------- What You Need to Know About Fixed Asset Management for Today and 2010 http://w.on24.com/r.htm?e=161850&s=1&k=CEF0C72E39945CD5796640D6F6AEAB14&partnerref=newsletter ---------------------------------------- Video ---------------------------------------- Overcoming BPM Road Blocks Gary Cokins, author of Performance Management: Integrating Strategy Execution, Methodologies, Risk, and Analytics (John Wiley Sons Inc., 2009), explains what actions finance leaders can take to overcome road blocks and gain new advocates. http://businessfinancemag.com/video/overcoming-bpm-road-blocks-0924 ---------------------------------------- In this Issue ---------------------------------------- Business Finance magazine now FREE to qualified subscribers. 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