Resolving Problems with Budgeting for Energy Use

During budget season, finance teams are reminded that some of the seemingly easiest things to include are actually the most difficult to budget for. Utility payments and energy costs are in that category. Even for companies that have a fixed billing arrangement, utility costs can fluctuate thanks to internal changes and external factors. As the annual budget is created, […]

Top 4 Things to Consider Before Purchasing Budgeting and Planning Software

Whether your company is finally moving from a spreadsheet-based system, looking to migrate from another package, or starting from scratch, purchasing budgeting and planning software is no small undertaking. Even setting cost aside, there are many things to consider when vetting potential budgeting and planning platforms. Evaluating the software means understanding what it can do […]

The Importance of Vision in Financial Planning for Your Business

When creating forecasts and budgets, companies usually look to the past for historical data to guide their plans. The past is a rich source of information to help you understand what has happened in years prior. However, it can be a dangerous thing to depend too much on, as relying solely on information about what […]

It’s Not Too Early to Start the Financial Planning Process

The financial planning process is a critical one that many companies compress into as little time as possible. Some companies are able to cram all their budgeting in a mere 25 day cycle. Others take much longer. Is a shorter planning cycle better than a long one? Limiting the time to get your business’s financial […]

A Finance Team’s Roadmap to Intelligent Planning in 2019

In any organization, finance teams are in a unique position. They hold the keys to a vast amount of data, and they have an overarching view of the organization as a whole. They use these two pieces to analyze the financial health of the organization and plan for the financial needs of the company. However, […]

How to Forecast Financial Statements

As a company embraces the idea of predictive financial planning, the idea of forecasting financial statements will appear on the radar. An important piece of planning, forecasting financial statements can seem daunting. How does a company go about creating this crucial forecast? The ability to look forward and predict an organization’s financial statement requires first […]

How to Forecast Cash Flow

Businesses talk a lot about budgets, revenue projections, and actuals. However, one of the most important planning tools that a business of any size must do is forecast cash flow. Cash flow forecasting is critical for a healthy business. Even profitable businesses can be hurt if they don’t have the cash flow to support day […]

Workday Study Shows Importance of Data on Financials

In a recent study conducted by Workday, researchers found that CFOs that are leveraging the power of data analytics in finance are seeing impressive benefits. Yet only 35 percent of the 670 respondents indicated they are making extensive use of these approaches and tools that yield deeper insights. If the benefits are so great, what […]

Your FP&A Software Needs These Features

In Ventana Research’s recent finance benchmark report, only 24% of those surveyed reported issues with their planning and budgeting software. At face value, it seems as if most FP&A departments are happy with their software, even if it’s the tried-and-true, but much maligned spreadsheet. However, as the report points out, digging deeper into the findings […]

Getting Team Buy-In on Rolling Forecasts

Resisting change is human nature. This is true of personal change as well as organizational change. One of the reasons people resist change is because of a fear of the unknown – they aren’t sure how a change in their workflow will work, how it will affect them, their teams or their job. When it […]