Fast changing business climates and aggressive competition have forced businesses to move from annual to quarterly and in many cases monthly planning cycles. Financial and operational plans become obsolete with delays in new product introductions, price changes and re-organizations, requiring businesses to quickly re-forecast to obtain a more accurate financial picture of the future.
Historically, the planning process puts the entire organization under pressure, with budgeting cycles taking many weeks and sometimes months. The Finance department, which own and maintains the planning templates and process, must update and redistribute the templates and performance reports, a time consuming and cumbersome task. |
