Financial Planning is a Discipline, Not an Event…….
Market volatility and global recession has made accurate planning and forecasting a challenging process. The need to reduce costs and manage cash flow has become paramount to planning for profitable growth. However, many companies still plan and forecast in decentralized, disjointed spreadsheet environments, making the data stale and unreliable, introducing human error, and slowing the process of completing the Budget/Forecasting process. The planning and forecasting process should be treated as a discipline, not an event. Adopting common, enterprise wide systems supports more agile planning and decision making, improving alignment across the organization.
The graphic below illustrates the role of technology in an agile planning environment: