![]() ![]() Review weekly POS and inventory levels at top retail accounts and distributors validate and adjust both sell-thru and sell-in forecasts.Partner with the Operations and Sales teams on a weekly basis to develop demand forecasts used to drive revenue projections and production.A solid understanding of financial and management reporting principles ability to sustain a broad-based knowledge of the Bank’s and Canadian Banking’s strategy, operations and procedures. ![]() Identify ways in which the tax position can be optimised in specific markets In conjunction with Corporate and Legal Affairs and Cluster Finance, conduct analysis of ITG’s excise tax position.Utilise market reports, competitor financial analysis, and competitor strategy & profit pools data to understand the historical and current pricing strategy of ITG’s rivals.Successful and sustained change requires a cultural shift and a clear vision across the entire organisation of what good looks like. Cultural barriers remain including an excessive focus on targets rather than business intelligence incentives, responsibilities and ownership structures that drive siloed and overlapping planning and forecasting. Technology continues to be under-utilised and organisations are still struggling with the fundamentals. ![]() However, these are not major differences, suggesting that importance of complementing technology with other important organisational and cultural best practices. Technology’s benefits are known as respondents with good usage of technology are more likely to get accurate forecasts (45% vs 37%) and a faster cycle time (56% vs 48% execute a forecast ![]() Indeed, it is worth noting that use of technology by leading organisations is very similar to the rest of the survey respondents, perhaps underlining the challenges that many organisations face in making a compelling investment case. Organisations who make good use of technology are more likely to have automated management information production and self-service capabilities and we see very similar results for the Leaders. 30% of organisations also report that they use spreadsheets as their main budgeting and forecasting tool and perhaps surprisingly, this is unchanged from 2014. Being clear about these quite different purposes lead to clearer communication, clearer targets, more robust plans and a nimbler organisation tuned to the changing environment.ĥ4% of respondents report that they do not make proper use of planning and forecasting technology, which is much higher than the 35% in 2014 survey. Forecasts, when used properly, provide the best view of the likely outcome based on current trajectory, thus allowing course adjustments and correction. However, as we would expect, leading organisations are twice as likely to have a better understanding of PB&F compared to the rest, suggesting the importance of understanding the scope of PB&F to fully unleash the benefits of effective PB&F.īudgets should be used to communicate and cascade targets and to develop operational plans to deliver against strategic goals in the short term. In the organisation of why they plan, budget and forecast, which has worsened from our 2014 results (70%). 62% of the respondents believe that there is a common understanding Understanding the purpose and alignment of each of these processes is critical to an effective performance management framework. Planning, budgeting and forecasting are quite different processes, each with a different purpose. These leading organisations represent some 23% of respondents, and the results are generally very similar across industry clusters, size of organisation and revenue. To drive better insight, we segmented “leading practice” organisations on the basis that they have replied positively to 10 or more of the 14 questions. Our survey drilled into a number of these practices to understand the current trends across organisations. Examples include: defining clear roles and ownership, use of rolling forecasts, integration across planning and forecasting, use of technology tools and other measuring techniques. Measuring the effectiveness of the planning, budgeting and forecasting process can be done across several parameters. Planning, budgeting and forecasting processes need to adapt to this change and must be embedded within any strategic changes implemented across organisations. Organisations are continuing to evolve and are making several strategic decisions to change ways in which they operate, go-to-market, and evolve business models. ![]()
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