HOW AGILE IS YOUR FORECASTING PROCESS?
Following one of our largest and most insightful research studies yet, FSN and its research sponsors, (Alteryx and Aimpoint Digital, Insight Software, Prophix and Workday) are pleased to bring you over the coming weeks, a series of infographics, webinars and other activities depicting some of the key findings.
In this first infographic we explore how responsive or agile the PBF (Planning, Budgeting and Forecasting) process is to change against a series of FSN stress tests. The research finds that changing reports and reporting structures (hierarchies) remains a challenge.
So please look at the infographic to see where you are on the ‘agility dial’. Please leave a comment here.
“Gary Simon, the fact that 60% of organizations can reforecast in under a week, yet just 40% are able to forecast with any real degree of accuracy and only 20% can forecast a year ahead with confidence fascinates me. When organizations look to invest in their PBF process it appears as though they have been focused on the mechanics of the process i.e. how can we forecast faster? as opposed to the more complex question, how can we forecast more accurately?”
Related Infographics in the Agility in Planning, Budgeting & Forecasting Series
HOW AGILE IS YOUR FORECASTING PROCESS? In this first infographic we explore how responsive or agile the PBF (Planning, Budgeting and Forecasting) process is to change against a series of FSN stress tests. The research finds that changing reports and reporting structures (hierarchies) remains a challenge.
HAVE WE SACRIFICED FP&A ACCURACY IN FAVOUR OF SPEED? The second infographic from our “Agility in Planning, Budgeting & Forecasting” research shows that forecast accuracy is getting worse – this despite many organisations forecasting more quickly.
WHICH IS BETTER? – ROLLING FORECASTS OR FORECASTING 4 TIMES A YEAR? The third infographic from our “Agility in Planning, Budgeting and Forecasting” research demonstrates that Rolling forecasts imbue PBF with agility.
THE CHARACTERISTICS OF THOSE USING ROLLING FORECASTS The research find that in essence if you are spreadsheet-bound, have not mastered your data and are not using specialist software, then rolling forecasts are technically out of reach.
Related Discussions in the Agility in Planning, Budgeting & Forecasting Series
HOW RESPONSIVE IS YOUR FORECASTING PROCESS? 60% of organizations can reforecast in under a week, yet just 40% are able to forecast with any real degree of accuracy and only 20% can forecast a year ahead with confidence. How come?
HAVE WE SACRIFICED FP&A ACCURACY IN FAVOUR OF SPEED? The second infographic from our “Agility in Planning, Budgeting & Forecasting” research in this forum shows that forecast accuracy is getting worse – this despite many organisations forecasting more quickly.
WHICH IS BETTER? – ROLLING FORECASTS OR FORECASTING 4 TIMES A YEAR? Are you considering rolling forecasts? If you use rolling forecasts, what has your experience been?
JUST 19% OF ORGANISATIONS LEVERAGE THE POWER OF ROLLING FORECASTS. WHY? So, what is stopping you implementing rolling forecasts and how can you bring about the change?