Budgeting, planning and forecasting is a critical process for organizations of all sizes who want to ensure profitable operations and well, plan for the future of their business. For finance teams who haven’t mastered the art of effective planning, month-end financial reporting and year-end planning is a chore. Those who have their financial processes down to a science enjoy timely completion of plans, plans that align with corporate goals, rolling forecasts, and the ability to analyze and dissect data as needed to make better decisions.
Aberdeen’s research study on Improving S&OP with Planning and Forecasting Technology provides insight on how best-in-class companies address key financial and business planning objectives. IMAX Corporation – the immersive motion picture technology company – was featured in the report. They’re an arcplan customer and a great example of a company that has fine-tuned sales and operations planning in order to improve business outcomes. IMAX is reaping the benefits of planning done right. Here’s how they made it happen:
1) They use technology to consolidate and analyze data.
Finance teams can waste many hours, days and even weeks consolidating data from various sources to create monthly and quarterly reports, leaving no time to analyze that data and make forecasts. IMAX overcame this problem by implementing an arcplan financial planning solution that…