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Determine the Best Path Forward with the CCH Tagetik Smart NOW Driver Based Planning App 

Jul. 30 2020 by Marco Vigolo, Product Management Associate Director - CCH Tagetik

Performance Management Budgeting & Planning Strategic Planning

Finance is as critical to operations as the heart is to the lungs. Both keep the organization alive and well. While these two functions might seem to operate independently at times, insights from one directly impact the other.

And yet, the legacy software or spreadsheet processes that many organizations use to create plans lend little financial context to operational decisions — and vice versa. This results in a lop-sided approach to planning where operational actions are divorced from the full spectrum of financial outcomes. This game of telephone is especially troublesome during times of crisis where Finance must advise on big operational decisions with significant financial consequences without the luxury of time.

The Biggest Challenges to Comprehensive Operational Planning

Spreadsheet-based Processes: Market changes are happening fast and furiously. Add-in economic uncertainty and you’ll be left with plans and business models that must adapt at a moment's notice. While it's possible to produce scenario analysis on a small, limited scale using spreadsheets, you can't do so quickly or comprehensively, which means your decisions will be half baked and too late.

Lengthy Software Implementation Times: Complex implementations swallow up time and resources, which impede your ability to pivot quickly. Plus, most enterprise software is borderline impossible to implement globally without in-person support.

Unable to Plan According to Needs: Many planning systems limit you to bottom-up or top-down planning. This means you can plan for an outcome or a scenario, but not both — not ideal when business continuity planning favors a combination of the two approaches.

When mastered, your understanding of the complicated relationship between Finance and Operations can be a strategic planning weapon. For these reasons and more, we created the CCH Tagetik Smart NOW Driver Based Planning app.

The App in a Nutshell 

The CCH Tagetik Smart NOW Driver Based Planning app helps you plan, simulate, forecast, and reforecast operational drivers unique to your business. This way, you can make better business pivots in an economic environment that changes by the minute.

driver based planning

To get you planning instantly and without a difficult implementation, we pre-packaged the app with functionality that supports your ability to make precise, real-time operational decisions. The app uses your real-time data to automatically complete pre-built sales, cost, and project plans. Using these, you can layout the chain-of-effect that any operational scenario has on crucial business metrics and financial statements.

Since we know planning can be a two-way street, our app supports both top-down or bottom-up approaches. You can instantly simulate how changes to operational plans impact the bottom line — and how a changing bottom line impacts operations. This ready-to-deploy app gives you the insight to direct your organization towards the best course of action.

3 Reasons to Get This App 

Reason 1: It’s Pre-built with Driver-Based Planning Intelligence

We created this app based on years of creating custom driver-based solutions for our customers. Thus, we’ve pre-built the app with capabilities our customers have requested time and time again. Now, you can start creating driver-based plans right out of the box. Included in the app are templates for sales, cost, and project plans that automatically populate with your operational data. How? The app is underpinned by our powerful data engine, the CCH Tagetik Analytic Information Hub. It gives you access a single source of granular financial and operational data enterprise-wide. The Analytic Information Hub not only cascades information instantly into reports, but it enables you to simulate scenarios, highlight cause-and-effect relationships, and explore the impact of drivers across a multitude of dimensions in real-time.

Reason 2: It Enables You to See the Impact of Changing Operational Drivers

You don’t have to determine whether the chicken or the egg came first. Whether you want to preview the path to the desired outcome or play out scenarios to view their outcome, this app facilitates top-down and bottom-up planning methodologies. You can instantly adjust your operational drivers to see the financial impact on the P&L. Or, conversely, you can adjust financial results to see the effect on operational KPIs. The choice is yours.

Reason 3: It Ensures Future-Focused, Data-Driven Decision Making

Our app supports crunch-time decisions and business pivots by enabling you to instantly forecast and re-forecast plans and simulate potential business scenarios. These simulations use real-time data, allowing you to play out the operational and financial impacts of any event or course of action in real-time. That way, you can make the best decision, swiftly and confidently.

We developed the entire CCH Tagetik Smart NOW app series to help organizations make better decisions during times of crisis, but also to get you up-and-running fast and remotely. 

Ready to elevate your operational plans? Learn more about CCH Tagetik Smart NOW Driver-Based Planning app by registering to the dedicated webinar here.

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