Planning capabilities are among the most important in performance management. Every company struggles in this area. There are a few basic reasons why planning is so painful.
- Plans are often spread across uncontrolled spreadsheet files
- Planning is time consuming and non-productive
- Problematic coordination of work and limited collaboration
- High risk of incorrect outputs and calculations
- Limited alignment of partial plans
The main problems can be eliminated by planning solution. Best planning solutions can bring unprecedented capabilities
- Multidimensional planning models which can cover complex business structures
- Centralized planning models and planning data
- Online collaboration through web browser or Excel
- Consistency and integrity of plans
- Combination of top-down and bottom-up planning
- Versioning, creation and reviewing of comments
- Management of planning workflow
Moreover, the full potential of additional business functions can be employed
- What-if scenarios help to test planning assumptions
- Driver based planning by modelling through key business parameters
- Delta planning where new scenarios can be deducted by adjustment of key business drivers
- Rolling forecasting for continual learning about ongoing performance
- Year-to-go projections for update of outlook for remaining part of year
- Planning targets of key performance indicators (KPIs)and modelling of strategic initiatives
Planning solution is not only a domain of finance. It is applicable across a company for many purposes such as
- Breaking down sales plans by products
- Setting targets for sales teams based on company objectives
- Planning of personnel costs and calculation of performance related bonuses
- Allocation of costs by drivers and price calculations
- Managed collections of regular or adhoc inputs through the internet or extranet
Should you require further information or a free assessment and solution concept contact us.