MedWatch

Coloplast axed traditional budgeting process: "It wasn't promoting growth"

The Covid-19 pandemic has shown that the budgeting process can quickly become redundant. A lesson Coloplast had already learned from the financial crisis.

"We concluded that there was a massive amount of resources being wasted across the organisation as a result our model," Executive BVVP and CFO Anders Lonning-Skovgaard says of the traditional budgeting process. | Photo: Niels Hougaard/ERH

Before 2009, Coloplast's budgeting process often took up to half a year, seizing the time and effort of countless key people in the organization.

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