Optimizing the budgeting process at a health e-learning scaleup
Challenge
Grown structures in the budgeting process are no longer feasible given unclear workflows, responsibilities and tools as well as increasingly complex framework conditions
Approach
Recording of the current status and requirements for the target status in interviews and workshops with the department management
Design of a budget planning process
Illumination of the design tradeoffs (e.g. traditional vs. agile, top-down vs. bottom-up, market-driven vs. function-driven etc.)
Draft of an iterative and agile budgeting cycle including a detailed description of the individual steps and the respective outputs
Draft of an approval process
Design of an "approval workflow" with clear process steps and decision points as well as an "approval register" with clear responsibilities for cost approval, based on clearly defined criteria
Deriving appropriate thresholds to ensure cost control (e.g. % cost coverage) vs. process efficiency (e.g. # invoices per week)
Deep dives regarding process-related best practices and requirements, specific recommendations for implementation in a matrix organization, possible software solutions, change management and communication strategies, relevant case studies and the creation of a concrete implementation plan
Result
Holistic budgeting and approval concept as the basis for corporate management, stakeholder management and incentives