5 Best Practices of Effective Budgeting & Planning: From Theory to Practice


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Video & Slides: http://www.proformative.com/events/5-best-practices-effective-budgeting-planning-theory-practice

Advances in technology are creating opportunities to realize the benefits of creating better alignment of budgeting and forecasting efforts with strategic initiatives and operating in a dynamic financial planning environment. This webinar will focus on how companies are leveraging technology and redefining processes to offer the right data at the right time to the right people within their organizations. The content will focus on illustrating 5 key best practices in strategic financial planning in action, in addition to discussing the theory behind them. Attendees will learn how leading practitioners are improving core operations today, and building strategic business value for the future.

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  • VisionAt Adaptive, we have a view of the differentroles finance can play and how they contribute to the organization. From being an effective manager of financial systemsand reporting to becoming a strategic leader of the company and empowering other business units within the organization.Our goal is…To give you the tools you need to implement the best practices that will move you up the scale, so that you can be a bigger contributor and leader within your organization.
  • CPM started with spreadsheetsWhile a good personal productivity tool, they’re fundamentally unsuitedfor a complex, dynamic, shared planning and reporting process.Spreadsheet-based systems are slow, error-prone, risky, costly, and ineffective. And they make it very difficult, if not impossible, to achieve any of the best practices we discussed.Then came large enterprise software applications from Oracle/IBM/SAPHowever, these packages are expensive, highly complex, take a long time and require IT to deploy, and are difficult to use. As a result, they are inappropriate for many companies. And even in the large enterprises that are able to deploy them, they often fail to meet the needs of end users (According to Gartner 70-80% of enterprise software BI projects)Now, the cloud has arrivedNew technology (old enterprise software was literally written before the invention of the internet) enables us to offer powerful features that are easy to use. It can be deployed quickly at an affordable price and doesn’t rely upon an IT team to implementand support.
  • 5 Best Practices of Effective Budgeting & Planning: From Theory to Practice

    1. 1. Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals 5 Best Practices of Effective Budgeting & Planning: From Theory to Practice Bill Aiken, CEO, Abacist Group Eric Zimmerman, FP&A Manager, Infusionsoft
    2. 2. • • •
    3. 3. • Understand how to deliver timely and accurate re-forecasts & what-if scenarios • Discover how to drive better business decisions through improved reporting and analysis • Understand how to implement 5 key best practices in effective financial planning at your company • Learn how to improve companywide participation and alignment in your company’s budgeting and planning efforts
    4. 4. Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals Bill Aiken CEO at Abacist Group, Adaptive Planning & NetSuite Planning implementation partner
    5. 5. 3 time winner of Adaptive Planning Top Partner Award! In class of most tenured Certified Adaptive Planning Partners Have been ranked #1 across Adaptive implementers for Client Satisfaction Have successfully completed over 100 Adaptive Planning projects
    6. 6. Expectations have increased for finance organizations Business Leaders Integral part of management Business Partners Decision support Process Managers Focus on improved reporting and minimizing risk Accountants Dominated by complex systems and detail Creates value by providing information and analysis for operating and strategic decisions Provides sound financial analysis 4 3 2 1 Stage Key Capabilities Transaction Management Controlling the Business  Annual budgeting  Variance reporting  Financial accounting  Tax, audit, treasu ry Planning & Analysis Integrated Functional Excellence  Rolling forecasts  Enterprise-wide collaboration  Performance management  Empowering business units to self serve analysis  Analysis of drivers  Predictive, ‘what if’ planning
    7. 7. Practice #5 Break-down Barriers to Self-Serve Info Practice #4 Improve Collaboration Designed for business end users Automated actual imports & re-forecasting Easy interface, notesharing, appr ovals & alerts Driver-based models with drill-down & what-if Realtime, easily consumed data elevates strategic dialogue Practice #3 Expand Business Drivers Practice #1 Integrate ERP & Planning Practice #2 Adapt to Business Changes
    8. 8. CLOUD SOLUTIONS LEGACY ENTERPRISE LOW-END TOOLS Easy to Use o o o o o Manual / Slow Error Prone Non-Collaborative Doesn’t Scale Not Secure Powerful Features o o o o o Easy to Use Very Expensive Powerful Features Highly Complex Quick to Deploy Slow to Deploy Hard to Use IT-Intensive No IT Required Collaborative Scalable Continuous Innovation
    9. 9. Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals Eric Zimmerman FP&A Manager at Infusionsoft
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    17. 17. • – – – – … to something like this …
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    19. 19. THANK YOU