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Category: Budgeting and Forecasting

The Accuracy in your Forecast Matters More than the Forecast Itself

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…

Human or Machine Intelligence? Augmentation Key to Better 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…

How Effective is Your Budgeting and 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…

Are You Using Scenario Planning To Improve Decision Making?

As the business and macro-economic environment continue to change at rapid paces and increasingly getting complex, the pressure on the finance organization to support the core business by strategically addressing volatility, uncertainty and risk is also intensifying. This fast changing environment is making it extremely difficult for organizations to forecast…

Improving Finance’s Financial Planning & Analysis Capabilities

As the role of the finance function continues to evolve from reporting on what happened in the past to driving business performance and creating enterprise value, the function’s financial planning and analysis capabilities need to be improved. More than ever, increased volatility and uncertainty is placing considerable pressure on finance…

Producing Reliable Forecasts That Improve Decision-Making

Although almost every organization uses forecasts to predict and manage future business performance, only a few of the produced forecasts are reliable despite the amount of energy and time invested in producing them. The problem with unreliable forecasts is that they have far-reaching strategic and operational implications. They lead to…