| Most financial executives use some form of | | | | built around spreadsheets. Less than |
| rolling forecast to guide their financial | | | | one-fourth use a dedicated financial |
| planning and budgeting efforts, but do so in | | | | planning, budgeting and forecasting |
| rudimentary fashion, employing mostly manual | | | | application, such as Cartesis Planning, or a |
| business performance management processes and | | | | fully integrated business performance |
| spreadsheets that inevitably fail to deliver | | | | management software solution, such as |
| the accuracy and manageability they are | | | | Cartesis 10. |
| seeking. A recent survey of more than 320 | | | | |
| senior finance executives in North America | | | | Steps to Better Budgeting and Rolling |
| and Europe showed that over 68% of companies | | | | Forecasts |
| have developed and deployed rolling | | | | |
| forecasts. However, most of these executives | | | | Search Engine Marketing Specialist |
| still feel they need to improve the accuracy | | | | |
| of their financial forecasts as well as the | | | | Since 1995 SEO/SEM tools, training, and |
| time it takes them to produce these | | | | professional "full service" Search Engine |
| forecasts. The study, conducted in September | | | | Marketing help at very affordable rates. |
| 2006 by CFO Research Services (Boston, MA) | | | | |
| and Cartesis also showed that: | | | | In order to help companies address the |
| | | | financial forecasting and budgeting |
| Companies need better forecasting methods, | | | | challenges discussed above, Cartesis |
| which solutions such as Cartesis Business | | | | recommends a pragmatic approach. The approach |
| Performance Management software can provide. | | | | ensures that early wins will save time and |
| These solutions allow the expanded use of | | | | money, which can be later "spent" on |
| operational drivers, better what-if scenario | | | | additional improvements that create long-term |
| creation and increased collaboration | | | | value. |
| throughout the forecasting process | | | | |
| | | | Quick wins through automation - The use of |
| Finance executives - hampered by a shortage | | | | planning and forecasting applications, such |
| of time and resources - endorse an | | | | as Cartesis Planning, enables companies to |
| incremental approach to changes in their | | | | automate processes and reduce reliance on |
| forecasting technology and business processes | | | | spreadsheets for immediate benefits. |
| Forecasting With a Moving Horizon | | | | |
| | | | Ease of use as a priority - Rolling forecasts |
| The manner in which a company forecasts its | | | | are simple to create, even for multi-year |
| financial and operational activities is a key | | | | horizons; forecast templates adjust to each |
| factor in how efficiently and effectively | | | | business unit; and benchmarking and what-if |
| that company can allocate its resources, make | | | | analysis are easy, enabling managers to |
| investments, guide shareholders and achieve | | | | better predict and measure business |
| and measure results. Finance executives in | | | | performance. |
| the survey agreed that better forecasting | | | | |
| would lead to tangible benefits, such as | | | | Collaboration with flexibility and control - |
| reduced risk and increased profitability. | | | | Collaboration, made easier with workflow |
| The survey also showed that two-thirds of | | | | management, results in forecasts that are |
| respondents who use rolling forecasts utilize | | | | more accurate and aligned with the corporate |
| a basic 12-month time horizon, when 15 months | | | | strategy. Adaptive financial planning for |
| or more is actually preferred. And nearly | | | | continuous change - Adaptive planning |
| one-half of respondents use only spreadsheets | | | | involves continuously improving the planning |
| for financial forecasting, while an | | | | process to capitalize on previous gains. |
| additional 21 percent use custom applications | | | | |