In the best performing companies Financial Planning is much more than yearly budgeting for target setting. It is a continuous holistic management framework that provides insights about the possible future outcomes. When business environment changes or a sudden crisis hits, understanding the possible impact in financials is vital so that management can quickly take right corrective actions needed.
Aligning and linking strategic and operational business planning with financial planning is a key for an up-to-date, transparent and accurate enterprise wide planning process and system. This process involves more business organization and adds commitment, collaboration and common understanding with the finance department.
The main objectives we have successfully been defining, planning and implementing with our clients are:
- Align strategic, operational and financial planning processes
- Enable Driver based planning
- Shorten the time spent in the planning process
- Automate process phases and tasks
- Add transparency and accountability
- Improve data quality by controls
- Transform from budgeting to rolling forecasting
- Add machine learning forecasts