From stock market incidents to force majeure, from customer complaints to viral consumer trends – in today’s globalized, data-rich and connected world, traditional annual business plans and periodic forecasts are not enough.
Organizations need a more reliable, relevant forecasting approach that is flexible, multi-faceted and aligned to the changing needs of the business – an approach that can contend with the full array of possible scenarios and offer sensitivity analyses on the latest developments affecting the business today.
Reliable forecasting goes well beyond traditional business planning. Many high-performing companies now employ sophisticated business analytic tools and techniques to continuously improve their forecasts, predict and manage risk, and reveal new market opportunities.
By sharpening their focus on analyzing data, forecasting trends and supporting business decisions that improve performance, finance teams can become more forward-looking, value-adding partners to the business.
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The finance organization of the future, and indeed of today, must go beyond its business-as-usual.