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Budgeting Link
  In the September 28, 2009 Issue:
From the Editors of
How Northern Trust Weathered the Financial Crisis
Making Change Happen in Your Organization
Paying for Forecast Accuracy Costs More Than You Think
Why Pay-for-Performance Compensation Is Problematic
The Finance Challenge of Aligning the Business with Strategic Goals
BPM Summit Presentation: Why Go Beyond Lean Six Sigma and the Balanced Scorecard?

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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.

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.

PARTNER RESOURCES
 

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.

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.

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.

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.

Today's Budgeting Link Brought To You By    
Webcasts

What You Need to Know About Fixed Asset Management for Today and 2010

Expert 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.



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