The tumultuous events of the last year have had an unprecedented impact upon businesses of all sizes, across all sectors and in all geographies. In such circumstances the traditional budgeting process, at least for certain parts of a business, can look obsolete. The rules, assumptions, and drivers of historic performance may no longer be relevant. In many respects, CFOs find themselves budgeting from scratch, defining a new path to business continuity and future prosperity.
ZBB (Zero Based Budgeting) is that fresh approach, which as the name suggests starts with a ‘blank canvas’ (the Zero Base) and requires management to justify the budget from the ground up.
Download this FSN whitepaper on Zero-Based Budgeting to better understand:
- the differences between ZBB and traditional budgeting methodologies;
- why ZBB is advantageous, especially in times of crisis and rapid change;
- how to unlock new opportunities and re-align the cost base to a new era of activity.