4 simple steps to building a realistic branch transformation budget for 2023

by Bruce Allen Eastwood, DBSI

Transformation can be a lot of fun — but let’s face it — budgeting season is not.

Especially under current economic conditions: in the latest Fortune/Deloitte CEO survey, more than 80% of CEOs surveyed expect inflation to influence or disrupt their business strategy within the next 12 months, surpassing labor and skills shortage from its previous top position but remaining a top disruptor for over half (59%) of CEOs.

When starting to plan for your Branch Transformation or Headquarters projects, one of the hardest tasks you’ll take on is determining how much you need to reasonably budget for your project and what your final cost will be to ensure nothing is forgotten.

Sure, we like surprises as much as the next guy, but we’d prefer if they didn’t come in the form of exceeding budget (or having to go back and ask for more money). Projects of this size and importance require you to get your budget right the first time — but first, what all goes into transformation that you need to consider?

 

continue reading »