Financial Planning and Forecasting Best Practices
Five tips for a smooth, insightful planning and forecasting process.
Every organization needs to plan and forecast to establish income and expense targets and allocate resources, but the process can be long and arduous. Everyone in the organization usually dreads planning time – including finance.
Most FP&A professionals want a planning and forecast process that is fast and repeatable. They want the financial data to be accurate and transparent to the deepest levels. They need planning tools that provide structure to streamline the process and flexibility to accommodate changes in the business. And they require analysis and reporting that bring visibility to the state of the business and lead to actionable insights. This paper details five best practices that finance teams can follow to improve their planning and forecasting and influence the strategy of an organization.