Every CFO expects to lead the budget planning process that supports strategy, but in reality, it can often be far from it. In many companies, budget planning still relies heavily on manual consolidation, scattered spreadsheets, and inconsistent assumptions. Time that should be spent analyzing trade-offs and guiding decisions is lost to reconciliation and firefighting.
According to Gartner, only 3% of organizations have fully aligned strategic, operational, and financial planning, the rest operate in silos, limiting the impact of finance. At the same time, over 75% of CFOs plan to increase tech investment in 2025, prioritizing tools that reduce complexity and enable faster decision-making.
The issue is the process, not the expertise. A slow budget cycle weakens agility, delays action, and ultimately reduces finance’s ability to support the business.
Read more: Strategic Financial Planning That Actually Drives Results
What Smart CFOs Are Doing Differently
For high-performing CFOs the goal is to speed things up and to improve decision-making while building alignment across departments, and freeing up finance to focus on strategy instead of structure.
According to the 2024 FP&A Trends Survey, finance teams still spend 45% of their time on collecting and validating data, and only 35% on actual analysis and decision support. That split hasn’t changed much in years, which is exactly why smart CFOs are now removing complexity rather than working around it.
Here’s how they’re doing it:
Centralizing the planning process
Instead of chasing down spreadsheets from different teams, inputs are collected in a single, structured model. Everyone, from sales to HR, works from the same set of drivers, assumptions, and logic. This removes inconsistencies and reduces the endless back-and-forth that slows down the cycle.
Automating consolidation and model updates
Top teams no longer manually roll up departmental data or rebuild links when something changes. Planning tools automatically update calculations as inputs shift, saving time and reducing risk. This gives finance more bandwidth to focus on what matters, guiding decisions, not fixing formulas.
Building interconnected, driver-based models
When headcount, pricing, or sales volumes change, those updates flow through the model instantly, updating OPEX, COGS, and cash flow in real time. This creates a living financial model that reflects the business as it operates, not just once a year. It’s a key enabler of faster and more confident planning.
Reforecasting more frequently, and faster
Traditional forecasting cycles take days or even weeks, which doesn’t work in today’s environment. Smart CFOs run rolling forecasts monthly or on demand, not because they have bigger teams, but because their models are designed for speed. Still, 78% of FP&A professionals say they can’t run even one scenario in under a day, highlighting how far most teams still need to go.
Fixing the data problem at the source
Having a single planning model is only valuable if the data is clean. According to FP&A Trends, 64% companies say they rely on data for decisions, but struggle with consistency and version control. Smart teams link planning tools directly to ERP, HR, and CRM systems, creating a live connection to operational data. That means fewer assumptions,and more facts driving decisions.
Scaling finance’s impact without growing the team
These improvements don’t require a larger finance headcount. By simplifying structure and automating manual tasks, teams get more done with the same resources. That’s especially important in fast-scaling companies where planning complexity increases long before team size catches up.
And the impact is clear: finance teams using modern, cloud-based planning platforms are 24 percentage points more likely to rate their forecasts as “good” or “great”, 61% vs. 37%, compared to those still working in spreadsheets.
Smart CFOs aren’t chasing transformation for its own sake. They’re solving the friction points that stall decision-making, and putting finance back in a position to lead with speed, accuracy, and strategic clarity.
Budget Planning That Actually Supports Strategy
You can’t support strategy with a manual, version-heavy budget process. That’s why modern CFOs are investing in tools that go beyond automation and directly support decision-making.
According to Farseer’s research on finance trends, companies are shifting away from traditional annual planning and moving toward continuous, connected forecasting, where budget planning becomes an ongoing, collaborative process, not a one-time event. At the same time, FP&A teams are expected to do more with fewer people, meaning tools have to increase output, not workload.
What the right tools enable:
Real-time collaboration and input collection
Budget owners enter data directly into the model. No version chaos, no back-and-forth with templates. Tools like Farseer, Vena, and Jedox offer structured workflows that keep everyone aligned and accountable.
Integrated data from ERP, HR, and CRM systems
Instead of importing data manually, tools like Farseer, Workday and Adaptive connect directly to source systems. This ensures that planning is always based on current data, not outdated exports from last quarter.
Driver-based planning, not static templates
CFOs can build logic once and apply it across the model. Headcount changes update salaries and overheads. Sales forecasts update revenue, COGS, and cash flow. Tools like Anaplan, Farseer, and Pigment make this structure easy to scale.
Fast, in-model scenario analysis
Whether it’s cost inflation, FX swings, or pricing decisions, finance can simulate impacts in minutes, not days. That’s no longer a luxury, it’s a requirement for supporting agile decision-making.
Why the tool matters
Not all platforms are built for finance teams to actually use on their own. Some require heavy IT support or external consultants just to make a change. Others are flexible, finance-owned, and quick to deploy.
Farseer fits this latter group, a modern planning tool designed specifically for fast-growing companies in manufacturing, pharma, and consumer goods. It’s structured enough to keep logic clean, but flexible enough for finance to maintain without IT.
Strategy needs structure
If the goal is to support fast, confident decisions, the planning process has to be just as fast and just as confident. That’s what modern tools enable. And that’s what gives finance a real seat at the table.
Tactical Moves for Strategic Results
You don’t need to rebuild everything to modernize budget planning. The most effective CFOs take a tactical approach: focus on solving one problem at a time.
Every move is intentional. And the results compound fast.
Here’s how they do it:
Start with one pain point
Don’t try to fix everything at once. Smart teams begin with the process that’s most broken, often workforce or OPEX planning. These areas are Excel-heavy, time-consuming, and easy to improve. One quick win is usually enough to justify broader change.
Connect, don’t replace
Existing systems like ERP, HR, and CRM still play their role. But instead of pushing them to do what they weren’t built for, CFOs plug in a planning layer that pulls clean data and allows finance to model, analyze, and adjust,independently.
One model, shared by all
Instead of managing multiple versions across departments, they build a single connected model. Assumptions are transparent. Logic is shared. Everyone, from HR to Sales to Operations, works off the same plan. No more mismatches, no more version chaos.
Expand with structure
Once the foundation is set, it’s easy to build. After solving for OPEX or headcount, they add layers: CAPEX, revenue, cash flow, scenario modeling. Each phase adds value, and reduces manual work for the team.
Own it inside finance
Tactical means lean. The CFOs getting results aren’t waiting on IT or consultants. They choose tools that finance can manage directly. The ability to make changes fast, run scenarios instantly, and iterate without blockers is what keeps progress moving.
What To Do Next
If your budget process feels too slow, too manual, or too disconnected, it probably is. But improving it doesn’t require a massive transformation project.
Start by mapping out how long each step in your current process takes. Identify where finance is creating value and where it’s just managing structure. Then, talk to peers who’ve already made the shift. Many CFOs in manufacturing, pharma, and FMCG have moved away from spreadsheets, and their only regret is not doing it sooner.
Focus on one clear target, whether it’s shortening the cycle time, automating workforce planning, or enabling rolling forecasts. Choose a tool that fits your process, not one that adds more complexity. It should be something your team can manage without depending on IT.
Finally, measure the impact early. Time saved, fewer versions, faster reforecasting, that’s what builds internal support and proves value.
A better budget process isn’t about doing more. It’s about removing the friction that slows you down, and creating space to lead with clarity.
Đurđica Polimac is a former marketer turned product manager, passionate about building impactful SaaS products and fostering connections through compelling content.
