Optimization of the Budgeting & Approval Process at an E-Learning Scaleup
Challenge
Historically grown structures in the budgeting process were no longer fit for purpose given unclear workflows, responsibilities, and tools, as well as increasingly complex framework conditions
Approach
Capturing the as-is state and requirements for the target state through interviews and workshops with department leadership
Design of a budget planning process, incl. exploring design trade-offs (e.g. traditional vs. agile, top-down vs. bottom-up) and design of an iterative budgeting cycle
Design of an approval process: approval workflow with clear process steps, responsibilities, and criteria; derivation of appropriate thresholds to balance cost control vs. process efficiency
Deep dives into best practices, implementation in a matrix organization, possible software solutions, and development of a concrete implementation plan
Result
Holistic budgeting and approval concept with management buy-in