Good-Bye Annual Budget. Hello Rolling Forecast

World moving too fast to plan even a year ahead.

So an increasing number of companies are abandoning the age-old tradition of annual budgeting and adopting instead a system of constantly updated forecasts. They call them rolling forecasts, flexible budgets, or event-driven planning. But they aren’t annual budgets.

CFO.com  cites as examples: Unilver, Norton Lilly International, Statoil, and American Century Investments. “Meanwhile, other companies continue to execute a budget but, for the most part, manage the business without it,” Russ Banham reports. “Call it a sign of the times, literally.”