Digital Transformation is accelerating global business, bringing more volatility. The cloud, mobility, social technologies, and analytics are lowering barriers to entry and bring the threat of new competitors. Supply chain complexity and data proliferation make it a challenge to align strategic plans with execution.
As economic shifts occur more frequently, flexible business planning becomes essential. Planning provides the foundation for strengthening every part of corporate performance by translating long-term business strategies into immediate operational objectives. With continuous planning, the best organizations can innovate to increase revenue, improve market share, and embrace new business models.
But many enterprises struggle in making planning cycles effective. Spreadsheets can compromise accuracy. The Business Application Research Center (BARC) highlights slow, costly, and manual budgeting processes that do not deliver desired results. A recent BARC recent study found annual budgeting often takes more than two months. 27% required three months or longer.
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