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Budgeting, Planning & Forecasting: “If you don’t ask, you don’t get”

Feb. 18 2014 by Leslie Cant, Product Marketing Director - CCH Tagetik

Budgeting & Planning

As hard as it is for me to believe, I have been around Budgeting, Planning & Forecasting (BP&F) software as a user, vendor or analyst for more than 20 years.  And some days I think I’m in a time warp. There’s still a lot of talk about replacement of spreadsheets being the primary value-driver for BP&F solutions. Its time to move past this, it understates the value to the business, almost relegating BP&F products to commodity status, which is far from the case.
Don’t be satisfied by simply replicating an old spreadsheet process in a shiny new interface. Don’t dumb-down your requirements to the capabilities of the software. Let your process be the driver, decide what exactly your process should look like and the capabilities you need before you start thinking about software. It’s OK (actually recommended) to think outside the box given how much planning capabilities have matured over the last twenty years. Today, you should feel comfortable asking a state-of-the-art planning system to do:

      • Long-range planning
      • 12-18 month (or longer) rolling forecasts
      • HR, Capital, and Sales planning
      • S&OP
      • IBP (Integrated Business Planning)
      • Cash Flow Planning
      • P&L and Balance Sheet Planning
      • Project Planning
      • Driver-based Planning
      • Operations Planning
      • Detailed allocations
      • “Budget Books”
      • PowerPoint integration

And today you can get all of this in a single solution. So don’t hold back, ask for what you need in a budgeting and planning solution, don’t just settle for what a vendor chooses to show you. Because just like in anything else in life, “if you don’t ask, you don’t get” (interesting Huffington Post blog on the topic).

So, if you want your organization to get more value from your budgeting and planning solution, take the initiative to step up and ask for it. Those who do will positively impact the value their organization realizes from their planning processes.

Tagetik unified budgeting, planning and forecasting

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