budgeting and forecasting
Insight Meets Foresight
Disruption—sparked by shifting consumer demographics, new digital technologies and business models, and changing regulations—has caused organizations to explore new ways to drive profitable growth, address risk, and adapt to uncertain market conditions.
To stay on course, your forecasting process needs to be fast, reliable, and flexible to align with shifting corporate strategy. Ideally, your forecast should be supported by intuitive scenario analysis and action plans that enable you to anticipate and react quickly to market changes. This need for speed, agility, and actionable intelligence also gives rise to a need for a faster, more effective budgeting process—one that can allocate resources to the right opportunities at the right time.
Why is the budgeting and forecasting process so challenging?
As new data sources emerge, and technology applies it in innovative ways, businesses now, more than ever, have access to valuable insights that can significantly improve management decision-making and steer business performance through increasingly uncertain markets.
For many organizations, the budgeting process is executed within spreadsheet environments or legacy solutions that prevent dynamic collaboration and clear insight into data, contributing to multiple budget iterations. This laborious planning architecture perpetuates the misalignment of departmental plans and consolidated bottom-up plans that seldom reconcile with top-down expectations.
In the forecasting process, enabling best practices, such as rolling forecasts, is extremely effective in bolstering efficiency, flexibility, and business agility—yet these practices are challenging to execute within manual environments. This difficulty results in a forecasting process that is increasingly slow, inflexible, and arduous, especially amid changing targets and business conditions.
How can cloud-based technology improve the budgeting and forecasting processes?
By using a cloud-native platform, such as Anaplan, organizations seamlessly integrate data from different sources to centrally manage and comprehensively report on various business performance and KPIs. The ability to quickly adjust plans and budgets in a single location can not only dramatically shorten budgeting cycles, but it can also enable strategic decision-making and reduce the risks of human or formulaic errors.
Cloud-based financial planning solutions can also help organizations bolster efficiency, support enterprise-wide collaboration, and improve agility. FP&A professionals and enterprise-wide planners no longer spend time chasing data, but spend their time performing analysis and developing the insight needed to partner with the business.
Planning, Budgeting, and Forecasting Buyer’s Kit
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|Cloud-based planning solutions can help businesses improve efficiency, strengthen collaboration, and increase agility.|
|With a multi-dimensional modeling solution that integrates high volumes of disparate data, finance teams can better balance cost-reducing measures, quickly manipulating data in response to evolving market conditions, strategic business priorities, and fluid organizational structures.||Spreadsheets, point solutions, and legacy software prevent dynamic and efficient collaboration. The use of shared technology and data allows different business functions to evaluate, share, and adjust plans in real time with a common language.||Enterprises that can adjust quickly to changes, and can reforecast more frequently, maintain more insightful views into their future business performance. By eliminating monotonous spreadsheet maintenance, FP&A teams have access to the real-time insights needed to drive strategic decision-making.|
United Airlines Customer Story
Achieving multi-dimensional planning with the Anaplan platform
Which budgeting and forecasting best practices are best supported with technology?
The Art of the Rolling Forecast
How does Connected Planning technology enable best practices in finance?
Financial and operational data in one central repository for collaborating with users responsible for other markets, production plants, and business functions.
A cloud-native platform that requires minimal IT support and fast implementation, as compared to legacy systems.
An exclusive App Hub that provides access to industry best practices, models, and inspiration.