Consolidation of power: Planning, forecasting, & reporting on one platform
What does your organization’s planning, forecasting, and reporting process look like?
Do your core financials and analytics reside on disparate, disconnected platforms? Are you still managing planning and analysis using Excel spreadsheets? Do you wonder if there might be a 2022 solution that lets you see around corners, adapt faster to market shifts, and take advantage of business opportunities ahead of the competition?
The financial planning and analysis (FP&A) space has seen some exciting changes lately that take planning, forecasting, and reporting to the next level—and well beyond traditional limitations. The biggest change? Consolidation of those three functions onto an all-on-one-platform FP&A solution. The Planning solution from FinancialForce is a prime (and only) example. It empowers finance, planning, and other teams to run a connected business and become valuable business partners to the entire organization.
Agility and collaboration
An all-on-one-platform FP&A solution offers a 360-degree view of a business, engendering enterprise-wide agility and collaboration. That enables teams to present most-likely business outcomes, avoid endless negotiations, and promote active participation from all corners of the business. The upshot: better planning, forecasting, and reporting, to speed decision making and business growth.
That’s not all. With a single source of truth, finance, planning, and other teams can review core financials and analytics and determine the historical and future health of their entire business. A unified FP&A solution transforms an organization’s traditional budgeting process into a powerful forecasting engine. More dynamic, accurate plans can be built. Budget allocations can be better anticipated. Assumptions can be stress-tested and adjusted on the fly, and corporate decisions can be more realistically tied to financial modeling and planning.
Recommendations with confidence
With an all-on-one-platform FP&A solution, businesses can create effective plans without version control issues. Teams can include budget audit trails so changes can be easily tracked. They can quickly build multiple what-if scenarios using calculation rules and mass functions. They can define different dimensions and dig into the details that matter. And they can recommend budget options to management with greater confidence.
With customer information, core financials, and analytics on one secure, simple platform, teams can spend less time manually collecting, preparing, and correcting data from across the organization—and more time analyzing that data to provide forward-looking recommendations that accelerate growth.
The bottom line: Maybe there are some business activities that can afford to be stuck in an Excel past. But for complex formulas and calculation changes? For modern planning, forecasting, and budgeting? It’s time to get real. Organizations that wish to be competitive in today’s business climate would do well to look into a 2022-worthy FP&A solution—or fall prey to organizations that do.