This article provides an overview of the topics and cases presented and discussed by the expert panellists at the webinar “From Traditional to Better and Beyond Budgeting”, as well as the results of our polling questions.
Unlike traditional management methods, Financial Planning and Analysis solutions are a new way to manage your business rationally. With the FP&A systems in place, business processes become more accurate and agile, preparing your company for the challenges and uncertainties of today's economic climate.
The main criticism of the traditional budget is that it does not react to what is actually happening in the business during the year. But a Rolling Forecast solves that problem, helping companies to continuously plan (forecast) over a set time horizon.
Utilising modern technology like Artificial Intelligence and Machine Learning solutions in their Rolling Forecasts has enabled large, multinational companies to achieve real-time, continuous forecasts with 90% accuracy and in some cases, even higher.
The CFO at Swiss Railway Freight Logistics (SBB Cargo AG) shares how his own company successfully implemented this agile alternative to traditional budgeting
Traditional legacy and static methods are no longer sufficient for budgeting, planning, and forecasting. To help navigate this challenge, we must turn to Scenario Planning and Rolling Forecasts to guide us.