One of the roles of the FP&A function is predicting future business performance and help business leaders prepare for an unplanned future through forecasting and decision support. Although anticipating the future is challenging given today’s fast-changing environment, looking ahead is increasingly essential. The world is far, far more complex than… Read More »The Accuracy in your Forecast Matters More than the Forecast Itself
Budgeting and Forecasting
Forecasting is an invaluable process for any business. A forecast can play a significant role in driving company success or failure. For example, high forecast accuracy helps a business anticipate changes in the market, identify growth opportunities, reduce risks, analyze root causes of performance and proactively respond. On the other… Read More »Human or Machine Intelligence? Augmentation Key to Better Forecasting
The only thing right about a forecast is that it’s wrong. This unavoidable truth is particularly evident in business today. Businesses are grappling with high levels of volatility, uncertainty, complexity and ambiguity. Increasing regulation, competition, geopolitical tensions, ever changing consumer preferences and a shift in economic powers are making it difficult… Read More »How Effective is Your Budgeting and Forecasting
Human beings are creatures of habit. Once they have mastered certain habits, especially bad ones, it is extremely difficult to let go. Even though we are fully aware that the immediate, medium-term or long-term consequences of our bad behaviours are dire, we still cling unto them. Could this be because… Read More »Rethinking the Annual Budgeting Process
The annual budgeting process has been around for decades and still forms part of the performance management framework for the majority of organizations. As the economic environment has evolved and become more dynamic, has the budgeting and forecasting capabilities in your organization also evolved and adapted to this change? Unfortunately,… Read More »Why Implement Continuous Rolling Forecasts?