PWC has released a whitepaper around budgeting and forecasting, with some interesting metrics.
Apparently 30% of respondents take > 4 months to work through the budget cycle. 70% use spreadsheets for forecasting. 27% build variance reports (budget to actual) in spreadsheets.
It is no longer sufficient to just measure past performance. Budgeting and forecasting has become a critical competency for organizations to effectively plan, manage, and execute on strategy. Finance organizations face new challenges: building financial plans with strong links to strategy initiatives and fostering new collaboration between finance management and business operations.
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