Budgeting season is the most important time of year for finance teams. We surveyed 250 finance leaders across industries and company sizes to see how they run the process—from kickoff to board sign-off—and what separates smooth cycles from painful ones.

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Some questions this report answers:

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• When should we start our budgeting process, and how long should it take?
• Is our process really as collaborative as we think it is?
• When and how should finance pass the baton to department heads?
• What kinds of tools do finance teams rely on for budgeting, and how could they be improved?

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How can this help your finance team?

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• Come out of the gates strong. Learn how to nail the all-important kickoff week.
• Make collaboration concrete. See how to facilitate cross-functional collaboration for a better process all around.
• Help budget owners help you. Use straightforward templates that are easy for department heads to populate and finance to consolidate.
• Involve your board at the right time. When to loop your board in for a preview before the final draft.
• Embrace modern tooling. Ditch static spreadsheets in favor of live, auditable models