In these uncertain times, robust budgeting can seem naïve. Here are some things you can do to maximise the success of your budgets in uncertain times.
Where is the reporting industry going? What is important for agile and powerful planning analytics? What should you be focused on?
In any large organisation, decision makers rely on reports to give them the information they need for strategic conversations and decisions. The numbers are the foundation of goal setting, budgeting, forecasting, product development, sales strategies, and so much more. The more you can rely on your numbers, the better decisions you are able to make.
Have you been naughty or nice? Here are some of the things that Santa is bringing for all your FP&A enthusiasts out there.
Use these four paradigm shifts to supercharge your strategic planning capabilities and gain a competitive advantage.
Let’s explore 5 common budgeting challenges and how you can leverage FP&A technology to overcome them efficiently.
Departments can work as independent silos, leading to the segregation of ideas and data. How can unified planning help to close the departmental gap?
There’s a term in network technology called ‘latency’ which refers to the delay between the execution of a command and the instruction given by the user. You’ll hear it most often in the world of high-speed training where a slight increase in latency (to the effect of a couple of milliseconds) can have a drastic negative impact on speed and thus performance.
As most of us realise, there is useful data and not-so-useful data. And merely having it at your disposal doesn’t necessarily mean that you’re able to discern between these two camps. It’s often only in the processing phase where we dig into the data and look for insights that we discover whether the data we’ve collected can actually drive us forward, rather than remaining a red herring.
Critics of financial modelling will always tell you that there are simply too many moving parts and interdependencies within a company to arrive at an accurate prediction of the future. They’ll point to how easy it is to adjust an input assumption and completely change the entire scope of what the model outputs. And to a certain extent – they’re right.