Number of Annual Budget Iterations

Benchmarking Report

Number of Annual Budget Iterations

This PDF report includes benchmarking data (in a visual, chart-based format), a comprehensive KPI definition, characteristics of high performers and technical details on measuring Number of Annual Budget Iterations. Purchase and download this easy-to-understand, presentation-ready report immediately to compare performance levels, set attainable performance targets, and push towards best-in-class performance for this KPI.


What is Number of Annual Budget Iterations?

The number of budget submissions made during the annual budget process before the budget’s final approval.

Why should Number of Annual Budget Iterations be measured?

Number of Annual Budget Iterations measures both the accuracy of the budget production process and the efficiency of the budget approval process. A higher than average value for this metric may be attributed to several factors: highly manual (and thus prone to error) generation of the necessary information to produce a budget (e.g., manual compiling of historical company performance data, manual account reconciliation report generation, etc.), inefficient documentation practices (e.g., poor document version control, nonstandardized filing systems, etc.), sub-par budgeting staff member training and performance, and poor budgetary line item approval policies (e.g., miscommunications between C-Suite executives and budgeting staff members over the company’s goals, disagreements over which products/services need development, poor employment forecasting, etc.). A high number of budget iterations can prolong the budget production cycle time and reduce the company’s ability to strategically allocate their assets across the organization in a timely and efficient manner.


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