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