ecmlpkdd2009.org

Some companies report moving from the traditional annual budget to a more dynamic process, typically in the form of a rolling fore-cast. “We began a weekly forecast meeting where all managers forecast net sales and profits for the month,” says a controller at a 430-employee engineering firm. “Now the managers can be proactive rather than reactive to changing times. We are also getting many more people involved, which improves morale as well as knowledge.”

“The rolling budgets enabled us to track our success against our updated forecast, which replaced stale/outdated annual forecasts,” says a controller at a public utility (82 employees). “Using rolling forecasts can require additional staffing to effectively run them and to continuously update the company’s forecasts.”