Accurate, Predictable, Simple…Enabling Best Practice Planning
In leading organizations, the planning process is an integrated approach that allows companies to translate strategies into key objectives, measures, and targets. Market drivers are always a moving variable, and companies must be able to incorporate these changing conditions into their business plans on a frequent and consistent basis.
The goal is to streamline a best practice planning process that is circular and repeatable throughout the year that starts with the visions of a long-term strategic plan and eventually applying the
initiatives down to more detailed operating plans. Yet this planning cannot stop annually as it must be revisited throughout the year to more effectively adapt to changing internal and external circumstances. When frequent forecasting is achieved, variable capital resources can be shifted and managed for optimal return on investments.
Take this to another level and apply a rolling forecast to extend into future years. This yields a best practice planning process where organizations are able to frequently and actively adapt to the market while also better aligning to the strategic visions of the company. When successful, this can create a competitive advantage where the company is driving results as opposed to managing passive reactions.