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My company nearly tripled revenue and improved profitability by turning budgeting from a top-down control exercise into a collaborative, flexible growth tool.
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Most companies have a rigid budgeting process. Fewer have one that allows for flexibility and actively supports growth. In many organizations, budgets are set top-down annually by finance, distributed to departments, and then monitored for deviations. That process works well enough for cost control, but it tends to create a passive relationship between department leaders and the financial plan. Leaders receive their numbers without understanding and aligning with their logic, operate within them and wait for the next cycle.
