Connected Planning is an effective way to unify data, people, and plans on a single platform. Implemented correctly, it can help accelerate better business performance in the modern dynamic market conditions.
During the pandemic, we witnessed how quickly traditional budgeting and planning process become irrelevant. Traditional controlling does not work anymore. We need to ensure all our planning processes are integrated vertically and horizontally and ensure everyone that plans in the organisation work together.
As was famously proclaimed by Pericles, the powerful politician of ancient Greece: "The key is not to predict the future but to be prepared for it". Agile FP&A can help organisations to move through uncertainty and come up with a plan of action.
When an organisation decides to invest in an FP&A software, there are three things to look for which will help ensure that the software selected will benefit the organisation as a whole, not just the FP&A function.
Gartner forecasted that by 2024, 70% of new financial planning and analysis projects (FP&A) will become extended planning and analysis (xP&A) projects, expanding their scope beyond the finance domain into other areas of enterprise planning and analysis.
This article details the main benefits and drawbacks of predictive planning. It provides recommendations on where to start your journey and how to avoid the most common mistakes.