2/12/2024 0 Comments Personal zero based budgetingIt aligns strongly with RevOps principles for making revenue growth a strategic priority rather than just a benefit companies hope to achieve. The process of zero based budgeting, when implemented successfully, serves as a natural reset button - an opportunity to continually assess how your spending activities should be optimized or adjusted. It requires every line item in the budget to be justified for the current period, rather than assumed to be relevant and/or necessary simply because it was so in the past.īecause ZBB starts the budget from scratch each year, it’s a more rigorous process than other budgeting methods, but one that more successfully connects budget and spending practices to higher level strategy. Zero-based budgeting is the practice of starting from budget “ground zero” every year to align spending with current strategic goals and organizational needs. Best practices include viewing ZBB opportunistically, nailing down your execution process, including stakeholders at every stage, and leveraging technology to enhance your effectiveness. ![]()
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