Enterprise planning best practices and challenges

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Leading Enterprises address planning obstacles and improve processes. They take advantage of new technologies and employ planning and forecasting best practices. They are quickly rewarded with more accurate plans, more timely re-forecasts and more effective decision-making. Overall, tools and practices SYSTIME brings along save time, reduce errors, promote enterprise-wide collaboration and foster a disciplined financial management culture that delivers true competitive advantage often accompanied by a leading or stable market position. Even though enterprise planning is crucial component of financial management it is often considered as also, burdensome and time consuming.

This presentation provides an overview which helps enterprises to take the first step toward improved budgeting, planning and forecasting approach.

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Enterprise planning best practices and challenges

  1. 1. Copyright © 2010. SYSTIME. All Rights Reserved. www.SYSTIME.net Enterprise Planning Best Practices & Challenges
  2. 2. Copyright © 2010. SYSTIME. All Rights Reserved. Welcome to the SYSTIME Experience Planning vs. Budgeting vs. Forecasting 2 Centralized Planning Summary Often Quick Decentralized Budgeting Highly Detailed Annual Slow Combination Forecasting Mostly Summary Monthly Quick
  3. 3. Copyright © 2010. SYSTIME. All Rights Reserved. Welcome to the SYSTIME Experience Concerns for Corporate decision makers Planning process tedious and time consuming Data integrity questionable Variance explanation difficult Inflexible tools not supporting dynamic environment 3
  4. 4. Copyright © 2010. SYSTIME. All Rights Reserved. Welcome to the SYSTIME Experience Everybody hates it! Everybody does it! More time spent on creating budgets than analyzing them Budget bears little or no relation to our underlying business plan Budget holders hate the lengthy and tedious process of creating, revising and submitting documents Once approved no one looks at it again 4
  5. 5. Copyright © 2010. SYSTIME. All Rights Reserved. Welcome to the SYSTIME Experience Need for efficient Enterprise Planning Tool 5 Planning process tedious and time consuming Reducing mistakes in business rules Increasing the information sharing between users Presenting and analyzing data through different perspectives Reducing time and complications in data aggregation
  6. 6. Copyright © 2010. SYSTIME. All Rights Reserved. Welcome to the SYSTIME Experience Best practice approaches 6 Best Practice Approaches Align strategic and operating plans Start at the top - and at the bottom Model business drivers Drive collaboratio n between functions Adapt to changing economic conditions Manage content that is actionable Timeliness and reliability
  7. 7. Copyright © 2010. SYSTIME. All Rights Reserved. Welcome to the SYSTIME Experience Align strategic and operating plans Achieving success depends on an organization’s ability to communicate corporate culture, strategy and action plans Comprehensive planning, budgeting and forecasting processes ensure that strategy effectively translates into action 7
  8. 8. Copyright © 2010. SYSTIME. All Rights Reserved. Welcome to the SYSTIME Experience Start at the top - and at the bottom 8 Senior management provide initial guidance from their top-down perspective on strategic goals, objectives and expectations Department managers build a plan from the bottom up, indicating how they intend to meet established goals
  9. 9. Copyright © 2010. SYSTIME. All Rights Reserved. Welcome to the SYSTIME Experience Model business drivers 9 For step costs use centrally Allocated method Full linear costs use the volume X Rate Method Driver Volume CosttoCompany A first-rate budget or forecast is based on a model with formulas that are tied to fundamental business drivers
  10. 10. Copyright © 2010. SYSTIME. All Rights Reserved. Welcome to the SYSTIME Experience Drive collaboration between functions 10 Finance Production SCM Sales Marketing HR & Facility IT Not only should strategic and operating plans to be aligned, but plans between functional areas should be coordinated
  11. 11. Copyright © 2010. SYSTIME. All Rights Reserved. Welcome to the SYSTIME Experience Adapt to changing economic conditions 11 Planning, budgeting and forecasting processes must fit your organization culture Comprehensive planning, budgeting and forecasting processes ensure that strategy effectively translates into action
  12. 12. Copyright © 2010. SYSTIME. All Rights Reserved. Welcome to the SYSTIME Experience Manage content that is actionable 12 A focus on actionable content in planning frees managers from unnecessary detail, enabling them to produce better plans Content Management helps a company in: Avoid false precision Monitor volatile—not stable — accounts Aggregate accounts Insight from detail Efforts in providing detail Actionable & Quick information
  13. 13. Copyright © 2010. SYSTIME. All Rights Reserved. Welcome to the SYSTIME Experience Timeliness and reliability 13 Leading enterprises use technology to successfully manage budget consolidation and aggregations in real time Real-time plan consolidation eliminates the necessity to process results manually and enables a smoother, more consistent, more accurate planning process
  14. 14. Copyright © 2010. SYSTIME. All Rights Reserved. Welcome to the SYSTIME Experience Judge the excellence of planning process 14 You are able to deal swiftly and effectively with change Your budget is consistent with the strategic plan Every budget-holder feels empowered within clearly agreed upon boundaries Your budget has been completed on schedule Everyone agrees that the process was worth the time and effort
  15. 15. Copyright © 2010. SYSTIME. All Rights Reserved. Welcome to the SYSTIME Experience Thank You info@systime.net 15 The content of this document are proprietary and confidential to SYSTIME Global Solutions Pvt. Ltd. and may not be disclosed in whole or in part at any third party without the prior written consent of SYSTIME Global Solutions Pvt. Ltd.

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