Achieve Agility Via A New Way to Forecast
Published November 26, 2009 @ 14:23 by Arwa in Industry News
In recent months, we witnessed a number of economic changes, and became more aware that managing an organization in the next decade will be different than during the past decade. The added level of uncertainty will make planning and performance assessment far more difficult.
Download BusinessWeek's research update , and then visit us to find out how PROPHIX can help you to implement rolling forecasts.Rolling forecasts ensure that planning is a continuous, dynamic exercise - not something that is outdated as soon as it is complete. Knowledge enables managers to react more quickly to changing economic and business conditions.
Traditional budget processes are renowned for requiring enormous amounts of time and effort. The results are stale by the time the plan is complete.
To achieve the benefits of rolling forecasts, you need to overcome several challenges. Organizations need to upgrade their budgeting and planning tools to fully enable trend analysis, scenario planning, financial modeling, data consolidation, global/local capabilities, and dissemination of results. These tools need to be flexible and intuitive so that processes such as re-forecasting do not intrude on productivity.
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