Zero Based Budgeting: What is it and Why Should You Care? w/ Adanma Akujieze

We’re all familiar with the yearly rounds of budgeting within our companies. But how often are we really looking at the WAY that we are budgeting? So often, the budgeting process is simply looking at the prior year’s budget, adding a little bit of inflation room onto it, and moving forward, never really stopping to sit back and ask ourselves WHY we are spending the dollars that we are.  And if the COVD-19 pandemic has taught us anything, it’s that we can likely make do without a lot of the things that we were spending an awful lot of money on before the pandemic hit. Things like travel, entertainment, being more intentional about where we’re spending technology dollars.  Which is why this week’s guest is the perfect person to address what is known as “Zero Based Budgeting,” or ZBB. Adanma Akujieze is the Chief Financial Officer at Larson Design Group, and has been instrumental in adapting the ZBB method on her team. She was kind enough to sit down and discuss:  -What is ZBB and why should you care about it?  -The advantages of ZBB during and after the pandemic  -How to make ZBB work for you -How you may be implementing the ZBB mindset without even knowing it. For more interviews from the CFO Weekly podcast, check us out on Apple or Spotify or your favorite podcast player! Presented by Personiv

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