The Budget Process – What Do We Do Differently? : vim

Last month the HSMAI Revenue Optimization Advisory Board met for a discussion of the budget process. A timely topic, as many companies are in the midst of developing budgets and preparing for 2023. I posed the question, is budgeting a waste of time when it is rarely accurate anyways? Especially in the current environment of pandemic recovery, inflation and recession rumors, there are so many unknowns that make budgeting akin to throwing a dart at the wall. What is the point of taking hours, weeks and even months away from doing real strategy and optimization to put numbers together for a budget?