Budgeting, Planning & Forecasting

Technology Best Practices to Shorten Planning, Budgeting, and Forecasting Windows

Provided by IBM

Category Budgeting, Planning & Forecasting

Type White Paper

Length 13

Publish Date March 10 2015

Date posted September 20 2016

Overview

Planning, budgeting, and forecasting (PBF) are key components of managing and driving organizational financial performance. Our conversations with enterprises and finance decision-makers reveal that planning, budgeting, and forecasting are also among the most difficult processes to execute in any company. PBF is often disjointed and rife with delays and inaccuracies, and remains an extremely elongated exercise.

With a careful selection of technology and process, organizations can potentially reduce planning windows to unlock tangible value. A single day saved from the PBF cycle tends to have a multiplier effect across the business – from shortening financial close times to increasing the productivity of line-of-business employees. In this report, we summarize some of the technology best practices adopted by end-user organizations that have successfully reduced their financial planning windows.

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