Forecasting is part of the process of updating the budget, which may occur one or more times a year. Typically an annual target value is set, which is valued on several months considering the first month of Actual figures and market dynamics.

Forecasting represents a move away from the annual sequential budgeting and planning cycles with forecasting becoming the focus of business reviews, introducing a forward strategic plan orientated slant to executive debate. As such, forecasting tends to take place at a higher level in the organisation structure, with an analytical rather than data collection approach.

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Tagetik is a global software vendor of the first unified Performance Management & Financial Governance solution to help CFOs and CIOs simplify complex business processes.

A complete financial closed-loop software, Tagetik 3.0 unifies key processes and applications – such as budgeting, planning & forecasting, financial consolidation, financial governance, strategy management, profitability modeling, working capital analysis – to manage and control overall performance, support compliance initiatives, harmonize different views of critical financial data, enable maximum visibility down to business transactions. In this way, the CFO can support the CEO in monitoring the implementation of strategies, ensure their sustainability and control corporate performance.

Since the software leverages “built-in” processes and cross-platform technology – fully web-based and integrated with any ERP, our customers can profit by up to 50% reduction of the total cost of ownership (TCO).