Best of 2009: Budgeting and Planning

Slashing budgets and revising plans were among finance executives' top priorities during the past 12 months.
CFO StaffDecember 29, 2009

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Budgeting and planning was a frustrating — if not completely futile — exercise for finance chiefs in 2009, as volatility on many fronts made this critical task more difficult than ever. Annual and quarterly forecasting became weekly, and CFOs found themselves managing a wide range of possible scenarios. Many finance chiefs focused on taking costs out of every nook and cranny of their businesses as they braced for rapidly falling or wildly unpredictable demand. CFO looked at the challenges of cost-cutting and forecasting and provided some suggestions for wringing costs out of such specific areas as travel, distribution costs, and legal and consulting fees. 

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