NEUBRAINER, the official blog of Neubrain

Budgeting for the Organization's Biggest Cost: Workforce!

Posted by Yana McConaty

Large and complex organizations maintain a strategic focus on processes and systems to manage their workforce. Despite being one of the largest expenditure items, workforce expenditures are typically neglected and left to finance to manage with a complex set of spreadsheets. Oftentimes there is not enough collaboration between HR and finance groups, leaving a huge disconnect between people and dollars.

 

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Topics: budgeting analytics, budgeting software, Workforce Budgeting, Pay and Personnel Budgeting and Forecasting

How to Jump Start Your Financial Transparency Initiative

Posted by Neubrain Communications

The United States is a country with a mature and educated digital population, where citizens constantly question whether their tax dollars are being put to good use. It’s no surprise, then, that they want to collaborate with their government on designing future public services.

Citizens want a clear and stable vision of the government services available to them. One way to provide that is through transparency in financial and performance reporting. Sharing formulated strategy, implementation progress and performance results help taxpayers understand how strategic or priority goals translate into dollars, so they can see how their money makes a difference. But citizens are not the only beneficiaries in this scenario. Transparency forces government administrators to run operations more efficiently. Fostering citizen engagement through data sharing helps government officials better understand the priorities of individuals and communities.

Now that we know what sharing can provide to citizens and government workers alike, the next step is determining what information to share. Here are some ideas:

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Topics: budgeting, transparency, open data

Transparency and Budget Practices

Posted by Neubrain Communications

Traditional line-item, or black box, budgeting that explains year-over-year incremental changes has resulted in diminished credibility and left more citizens questioning whether taxpayer dollars are being put to good work. Consequently, this type of budgeting is fast becoming a relic, giving way to a new, more strategic approach of budgeting called Performance-based Budgeting (PBB) and its variants - priority-based budgeting and budgeting for outcomes.

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Topics: Performance-based Budgeting, performance management, methodology, transparency, open data

Implementing Transparency in Financial and Performance Reporting

Posted by Yana McConaty

Government mandates to be more transparent have gone a long way to make information more available to the public, but posting raw data on a website doesn’t automatically make it accessible or digestible. Agencies still need to present the information – often about budget and performance – in ways that make immediate sense to average citizens. Sharing formulated strategy, implementation progress and performance results help taxpayers understand how strategic goals translate into dollars, so they can see how their money makes a difference.

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Topics: Performance-based Budgeting, performance management, methodology, transparency, open data

Happy Holidays from Neubrain!

Posted by Neubrain Communications


We wish you the joy of family, the gift of friends, and the best of everything this holiday season and in the coming new year. From all of us at Neubrain, we wish you the very best this holiday season!


 

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Topics: Neubrain

The Ultimate Guide to Achieving Fiscal Health

Posted by Neubrain Communications

We are excited to share The Governing Guide to Financial Literacy, Volume 2, a new resource for elected public officials, budget officers, government leaders and department heads.

This Guide provides relevant knowledge to public leaders to help them better determine their jurisdiction’s financial health. Inside you will find everything from an overview of accounting concepts to the steps you can take to improve your jurisdiction’s financial health. 

The Governing Guide to Financial Literacy
Includes a snapshot of research findings identifying state and local government leaders’ understanding of financial health; an overview of basic accounting and financial health concepts; key strategies for determining your jurisdiction’s financial health, and tips for enhancing it now and in the future.

Click Here to Download  

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Topics: Government Budgeting, budgeting and finance, Public Sector Budgeting

Budgeting, Planning and Forecasting Best Practices

Posted by Neubrain Communications

It is a common mistake to assume that automation alone will bring necessary budget process improvements to an organization. Automating an inefficient or unintelligent  bud­get process just makes the same process faster, not better.

The reality is traditional practices that govern budgeting, planning, forecasting, reporting and  risk management are becoming obsolete in the context of a fast paced digital marketplace and a volatile and uncertain global economy. Long established budget practices provide a false sense of security and fail to cope with the speed and volatility of today’s markets.

Additionally, the traditional budgeting process is widely de­cried, both by FP&A personnel—who must reconcile the requests from business managers with the targets handed down from the C-suite—and the business line managers they support—who view the budget process as a bureau­cratic exercise, a distraction from their job, a drag on their time, and a purely finance-driven process.

As you consider a new budget system, remember this is the optimal time to evaluate the strategies that can help your organization develop a more agile and intelligent budget process, use this process as decision making tool rather than a negotiation, and positively change your orga­nization’s perception of budgeting.

The following are a few strategies and best practices to consider:

 

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Topics: budgeting, forecasting, planning, best practices, performance management, budgeting software

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Neubrainer 

neu·brain·er |n(y)o͞o brān ər|
noun

  • Neubrain’s official blog featuring expert advice, industry news and analysis, innovative ideas, and more.; Did you read today’s post on Neubrainer?
  • An important tip or fact from Neubrain experts; Improve cost-efficiency and foster interdepartmental communication by implementing a performance-based budgeting solution-- it’s a Neubrainer.