Many finance teams are so accustomed to using spreadsheets to create budgets that they do not recognize the risks of doing so. The more companies depend on individual spreadsheets and individual employees to manage budgets, the less likely they are able to detect and mitigate issues arising from errors or even fraud.
But with the emergence of technological advances that enable companies to use tools other than spreadsheets, finance leaders are better equipped than ever to establish and maintain consistent and accurate approaches to budgeting.
During this Webcast, we will discuss:
- Why finance teams often depend on spreadsheets to prepare budgets,
- How to improve visibility into each stage of the budgeting process while enforcing separation of duties,
- The primary risks finance teams face in the absence of workflows to maintain the integrity of data within budgets, and how to overcome these risks,
- Why spreadsheets are insufficient, and what alternatives to spreadsheets are available, for complex processes such as consolidation, and
- How CFOs can collaborate effectively with colleagues outside finance to automate budgeting.