The #1 Reason Why Company Budgeting Fails

GURUS Cloud Connect

Why do annual budgets fail for so many businesses? Is it broken processes or relying on outdated tools like spreadsheets?

Spreadsheets are a comfort that many companies can no longer afford - they’ve become more of a burden than a comfort for many.

Watch GURUS Solution technical consultant, Matthew Jay, discuss why planning and budgeting fails for so many, and what are some of the blindsides that commonly occur during the planning and budgeting season.

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Video Transcript

Athen: Why is it that companies are still running on the same systems and aren't looking for technologies? Do you feel that it's because they don't know what's out there or simply because you feel there's still a gap in the technology market? 

Matthew Jay: People have been using Excel sheets for a long period of time. They have that flexibility there, they're used to it. Everybody knows how to use it - my mom, my dad, my whole family my grandparents know how to use Excel. It's because it's so simple.

Whereas sometimes. there's this thought that when you go and use a software, there might be some technical stuff and they're worried about changing. It’s the learning curve - you wear your same white t-shirt all the time, you don't suddenly want to change away and break off to wear something like a suit. 

You kind of get put into a trench and you get stuck there, and sometimes you need something to break you out of the comfort zone.