Planning, Budgeting and Forecasting is a process and system designed to help organizations to link strategy to plans and execution.
It’s a LIFE-cycle that organizations go through:
- Setting goals and budgets.
- Defining plans.
- Closing the books.
- Reporting the results to stakeholders.
Organizations perform a variety of analytics to understand “why” the results are above or below expectations and model various business scenarios that can impact future performance. Modeling questions include, for example:
- What if we raise prices?
- What if we move resources from one region or product line to another?
- What’s the impact on revenue and profits?
- What data do we need to determine appropriate expansion decisions?
These ritualistic and necessary process organizations go through on a regular basis — monthly, quarterly, and/or annually – is our “raison d’etre” and we help you discover where to best allocate capital and operational funding.
When it’s done right, EPM will:
- Improve efficiency by eliminating spreadsheets and making your planning and reporting processes go faster.
- Improve accountability by getting more line managers involved in the planning process and empowering managers with self-service access to financial and operating results.
- Provide insights into the business that maybe aren’t visible on the surface and which are actionable — so it creates greater business agility.
Year-end financial results rarely match up exactly with the budget that was set at the beginning of the fiscal year. This is simply because a business activity is highly dynamic and unexpected things happen over the course of the year such as:
- Economic conditions change.
- Industries are disrupted.
- Competitors change tactics.
- Employee turn over.
- Technology advances.
Here is the stress test:
- Are you operating on static financial budgets with outdated business assumptions?
- Is your company running a business on spreadsheets – but – your company has scaled up and you are noticing the bleed aka. things start to come apart at the seams.
- You’ve discovered conflicting versions , calculation errors, inaccuracies in reporting and planning, and the finance team are stuck in reconciling gaps.
- Is your company still working on the paper and not in the cloud?
We work with you to solve these pain points. Imagine your managers having access to real-time insights into key performance metrics delivered through interactive dashboards and reports. These can be addressed with a well thought-out Planning, Budgeting and Forecasting solution.
Astral Solutions Group’s Planning, Budgeting and Forecasting Solution can be configured to fit your organizations’ individual requirements, irrespective of size, diversity, and locations.