There is an “i” in agility
Our CFO had just returned from the Board meeting and I went to see him to confirm that the budget had been approved. That morning, a few moments of perfunctory conversation led to the most pivotal moment in my career – I’m standing there transfixed, staring at the trashcan, his words echoing in my head.
“The problem with this thing is…” He had picked up the tome of a budget book. “… it’s worthless. It tells me nothing about the risk or opportunities we’re facing. We all know the numbers in here are completely made up. I can’t manage the business with this.” He tossed the book into the trashcan by his desk, and with a challenging look says to me: “Find a better way…”
That was the beginning of a major organization-wide transformation that resulted in us not only replacing our traditional budgets with rolling forecasts, but changing all the collateral processes – targets, rewards, controls, resource allocation, and many others – allowing us to pivot to a management system that was agile, effective, and exceptionally successful.
Nevine White | Executive in Residence @ Live Future Ready
Having proven the powerful positives that transforming finance functions can bring, Nevine willingly shares the innovative and engaging lessons from her journey. Firmly committed to continuous improvement, she led the development, implementation, and operation of leading-edge planning processes, aligned with the Beyond Budgeting™ principles. In charge of the FP&A functions for publicly held tw telecom, not only did she champion replacing traditional budgets with rolling forecasts, but changing the collateral processes, including targets, rewards, controls, resource allocation, and many others. This allowed the organization to shift to a management system that was agile, effective, and exceptionally successful.
Nevine holds an MBA in Finance & Accounting, and a Bachelor’s degree in Electronics Engineering Technology. She is the former VP FP&A, for tw telecom (now Century Link), leading that function for two decades and notably without budgets for the last 10 years. She was the Executive in Residence for Live Future Ready for the past 4 years, supporting other organizations in their transformation efforts, and is currently the VP Accounting for Hargray Communications Group.