Addressing Business Planning Challenges for your Next Planning Cycle

In case if you have just made the submission of your Business Plan for the current financial year or are going to do so but having a night mare of the challenging process.

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Let’s look at some of symptoms which would depict that you are having challenges with your Business Planning & analytical process:

  • Do you often miss your forecast?
  • Do you need to explain the extreme variances in Actual Vs Plan?
  • Are you living in Spreadsheets hell with forever changing plans?
  • Are you in control of your Business plans by driving accountability across Business Units?​

If you could relate to above, then read on about the prevailing trends

Business will increasingly move away from Traditional methods of Budgeting to more agile approaches towards planning processes

We predict that increasing challenges in the market conditions & external factors driving the economy will force businesses to use new methods to arrive at their business plans.

We anticipate that emerging trends such as Artificial Intelligence and Machine learning will have a major impact on the way the Business plans are formulated. We are already seeing adoption of cloud based technologies such as Anaplan being used, there will be more pressure from Businesses on the IT & Consulting practices to see real value from their IT investments.

Use of Statistical methods for predictions to arrive at the proposed plans which would further be fine-tuned with collaborative approach Business Plans will be used

Impact of Forex exposure, M & A simulation will be increasingly used as simulation factors to arrive at Business Plans.

For example:

One of the global Customers I am working with had significant business coming from Nigeria, when the currency depreciated by more than 50% against the USD, it had a major impact on the contribution from this region.

Flexibility to perform What if analysis, Agile decision making which could even mean more decentralized decision making, driving different scenarios such as hold, Grow & Shrink and tremendous flexibility on the Business analytics will have a bearing impact in the Business planning & analytics

Now that we have learned about the symptoms showing challenges along with the current trends. Let’s look at the ways to address these challenges and adopt the current trends

We have a pre-packaged solution leveraging on the trends discussed earlier. This package comprises of following:

·      Implementation of Business Planning using modern cloud based planning software
·      Leverage on the best and next practices followed across similar industries & 200+ pre-built applications available
·      Guided implementation by providing training to your internal staff & resources
·      Implementation in weeks instead of months / year
·      Free upgrade to newer releases, with new releases planned for every 90 days
·      Package included onetime implementation fees and one year of charges for the subscription (there are no hidden charges, complete predictability over the cost structure)

Get in touch with us to know more about how we can help you to streamline your Business Planning processes.

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About the Author(s):

Umesh Biyani

Umesh Biyani has 15 years of work experience in Enterprise Performance Management and Analytics. He holds a Masters degree from IIT Roorkee, and prior to Anaplan worked as Partner and Client Director for EPM Consulting Organization based out of Singapore. He specialized in working with CFOs and finance organization to define their EPM vision. Besides work, Umesh enjoys the gym and meditation.

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