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