SWTCH by Pigment
Three days of predictions, insights, and advice from leaders in finance, sales, HR, supply chain and more
Register now here
SWTCH by Pigment
Three days of predictions, insights, and advice from leaders in finance, sales, HR, supply chain and more
Register now here
By Daniele Tedesco, CEO at Apliqo and MD DACH Region at Cubewise
More than 15 years ago, the Harvard Business Review had already declared corporate planning and budgeting as all but dead. “Corporate budgeting is a joke, and everyone knows it,” the business magazine wrote in 2001. The polarizing article generated an enormous reaction. However, little has changed since then. To this day, planning is perhaps the greatest challenge that companies face. In this blog we reveal how companies can make their planning processes more efficient by applying more modern methods.
While potential solutions for overcoming corporate planning frustrations are the subject of lively debate, there is a general consensus as to the causes of the problem: Planning takes up too much time, ties up too many resources and data quickly becomes obsolete. The consequence: Most companies are not satisfied with their own planning processes. So, it's high time to brighten the mood in finance departments.
We are dedicating the first part of our blog series to a method that is better able than any other of combining all relevant business segments in a comprehensive planning system: unified performance management, or UPM. This model consists of strategic planning, medium-term planning, budgeting and forecasting. Essentially, UPM is implemented by the following five steps:
Now for the tricky part. Leading planning and budgeting away from the brink naturally requires action. Efficient implementation of unified performance management requires structured processes and systems. Here are some practical instructions for achieving this:
In this article we will look at the different methods an organization can use to set...
Many experts agree that IBP has a monthly check and balance with the budget and the...
For organisations looking to get the most out of their Driver based planning and Rolling Forecasting...
We will regularly update you on the latest trends and developments in FP&A. Take the opportunity to have articles written by finance thought leaders delivered directly to your inbox; watch compelling webinars; connect with like-minded professionals; and become a part of our global community.