Application Requirements For Rolling Forecasts
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Overview of application requirements for implementing a rolling forecast in a software package. Includes an excellent analysis differentiating "budgeting" from "planning" as well as some recent survey results that show budgets becoming obsolete very quickly in the current economic climate. In this analysis, you learn why "budgeting software" just does not work all that well for implementing rolling forecasts in general.
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Application Requirements For Rolling Forecasts
- 1. Application Requirements for Rolling Forecasts Rand Heer, CEO Ben Lamorte, VP Business Development Alight Planning
- 5. At what point do you expect your annual budget targets to become obsolete? SOURCE: Business Finance Magazine
- 6. SOURCE: APQC / BBRT Research How Much of Planning Adds Value?
- 8. Budgeting Rolling Forecasts Timing Frequency Once a year Often—event driven Cycle time Months/weeks Days/hours/near real time Time horizon Fiscal year Rolling; beyond “The Wall” ______________________________________________________________________________________________________________________ Process Iteration cycles One version at a time Multiple scenarios at one time Participants Many—all managers Fewer—finance; key managers Collaboration Submission/approval Near real time as possible Deliverables Reports in binders Decisions; action __________________________________________________________________________________________________________________________________ Data Type Financial Financial & operational Inputs Many direct inputs Fewer direct; driver-based Measurement Variances Relative change; trends Level of detail Precision driven Relevant; what’s material Budgeting Vs Rolling Forecasts
- 13. “ Be Prepared” “ Develop Situational Awareness” The Goal: Be Prepared
Notas do Editor
- Application Requirements for Rolling Forecasts
- Alight Planning Presentation Ben to do the intro. Self then partners. Then Rand.
- Alight Planning Presentation Ben to do the intro. Position as the high tech entrepreneur with finance credentials. Hit Pillar hard. Industry guru.
- Application Requirements for Rolling Forecasts Rand walk thru the agenda. Also discuss what’s in the handout package. Please ask questions, but not about Alight software. Catch us later for that. Let’s have some fun!
- Ask the questions of the audience. When do you go obsolete… Unpredictability of the economy and competition: Valuations are in the dumpster; tight credit markets The economic crisis is forcing hard looks at revenues and spending Old business models are challenged by internet based models Internet and other sources give customers more info; they rule! Need systems for making fast, well informed decisions: The old way to run a company– budgeting—isn’t working Need more immediate and responsive planning systems Need continuous planning to see patterns, trends, reality checks Companies moving toward making forecasting the primary management tool Planning needs to be: Event driven—e.g. new product launch; competitive threat Flexible—owned by local teams Updated based on the latest and best info Focus on relative performance—e.g. vs. a year ago; are things getting better? More frequent and tighter OODA Application Requirements for Rolling Forecasts
- Application Requirements for Rolling Forecasts Rand walk thru the agenda. Also discuss what’s in the handout package. Please ask questions, but not about Alight software. Catch us later for that. Let’s have some fun!
- Application Requirements for Rolling Forecasts Rand only. Worth a heavy duty discussion… Do not get into BBRT trap. Relay the Clorox methodology.
- Application Requirements for Rolling Forecasts Rand only. Overview/roadmap slide.
- Application Requirements for Rolling Forecasts Ben starts with some questions: What are the key scenarios that you need to evaluate in the short or longer term? What are the three most important decisions you need to make in the next twelve months. What is the biggest challenge to making that decisions. Who wants to share? Budgeting applications explanations
- Application Requirements for Rolling Forecasts Rand. Like legal documents, you burn the old outdated version fast. Everybody talks about “locking down” the budget. Forecast is more fluent, changing things.
- Application Requirements for Rolling Forecasts Scenarios Address a Range of Forecasting Issues… Strategy development: testing alternate courses of action Address risk: test hi/lo ranges from a current trend Interventions: test new/different courses of action Address uncertainty: test the impact of specific events Understanding sensitivity: “what’s important”/actionable knowledge
- Application Requirements for Rolling Forecasts Ben starts with some questions: What are the key scenarios that you need to evaluate in the short or longer term? What are the three most important decisions you need to make in the next twelve months. What is the biggest challenge to making that decisions. Who wants to share? Budgeting applications explanations
- Application Requirements for Rolling Forecasts Rand only, mainly demo.
- Application Requirements for Rolling Forecasts Ben on first bullet. Rand on second with demo. Show public relations. Show change in each one. Then show in one operation. Add a line item in one operation.
- Application Requirements for Rolling Forecasts Ben only. In the background Rand runs the update links.
- Application Requirements for Rolling Forecasts Rand on demo. Ben chime in.
- Application Requirements for Rolling Forecasts Rand on demo. Ben chime in.
- Application Requirements for Rolling Forecasts Rand and Don
- Application Requirements for Rolling Forecasts Rand discuss from slide
- Application Requirements for Rolling Forecasts
- Application Requirements for Rolling Forecasts Ben starts with some questions: What are the key scenarios that you need to evaluate in the short or longer term? What are the three most important decisions you need to make in the next twelve months. What is the biggest challenge to making that decisions. Who wants to share? Budgeting applications explanations
- Put a slide in: don’t use too much detail.
- Application Requirements for Rolling Forecasts Need info from Chris.
- Application Requirements for Rolling Forecasts Demo setup: Mar, April, May showing. Revenues and Headcount at 120%. Key measures pre-formatted. Demo sequence: Revenues and then analyze driver relationships. Jump to HC. Show consulting heads Change March to 150. Open key measures and test
- Rand. Focus on activities and rates.
- Application Requirements for Rolling Forecasts Need a good discussion here.
- Application Requirements for Rolling Forecasts Need a good discussion here.
- Application Requirements for Rolling Forecasts Need a good discussion here.
- Application Requirements for Rolling Forecasts Need a good discussion here.
- Application Requirements for Rolling Forecasts Rand demo. Ben chime in with a “pain” comment related to Excel
- Application Requirements for Rolling Forecasts Rand and Don
- Application Requirements for Rolling Forecasts Rand discuss from slide
- Application Requirements for Rolling Forecasts If build a rolling forecast, balance materiality with precision. Name three data points you would bring in. Three things you would not bring in. Three things you’re not sure about. The big issue is not IT style integration between systems. What is the right level at which to plan. “ Be careful what you ask for” Dispel some myths discussions. OLAP cubes are about bringing in lots of data. We’re trying to help and understand. The biggest level.
- Application Requirements for Rolling Forecasts Ben starts with some questions:
- Application Requirements for Rolling Forecasts Rand discuss from slide
- Application Requirements for Rolling Forecasts Rand discuss from slide
- Application Requirements for Rolling Forecasts Rand discuss from slide
- Application Requirements for Rolling Forecasts Rand discuss from slide
- Application Requirements for Rolling Forecasts Ben to discuss from slide