Amid the recent recession, one of the hottest
innovations was the growth of Web sites that enable
users to get an aggregate picture of their financial data
and to set up budgets to manage their spending and
other financial decisions online. (Mint.com, a pioneer in
this market, was acquired by Intuit for $170 million in
September 2009.)
Budgets play a similar crucial role in businesses. Without budgets,
it’s difficult for managers and their employees to know whether
they’re on target for their growth and spending goals. You might
think a budget is only for companies that are in financial difficulty
(such as Citigroup) or whose profit margins are slim—Wal-Mart, for
example. As the following article shows, even companies that sell
high-dollar value goods and services adhere to budgets.