If your clients are still using Excel to do their budgeting and forecasting, they may not be using the most effective or efficient means to an end.That was the message delivered by K2 Enterprises' chief executive Val D. Steed at the recent American Institute of CPAs' National Not-for-Profit Industry Conference, here.

In a keynote session titled "Technology Tools for Budgeting & Forecasting," Steed pointed out that there is ample evidence that the current budgeting/forecasting process is not achieving the goals that many companies and practitioners expect in terms of time required and accuracy. Quoting a recent study undertaken by Ventana Research, which identified three root causes for the disparity in expected results, he suggested several alternative strategies to address the identified problems.

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