CFO Agenda Issue 2 - Planning Ahead For Agility And Accuracy

The global economy has undergone significant changes over the last several years leading to an increasingly complex and rapidly shifting business climate. Investor confidence has been shaken, and the need for deeper insight on business trends and current and future business performance has increased. Chief financial officers (CFOs) are now required to respond in a more agile, accurate and insightful manner to these changing conditions by transforming their financial planning process.

Financial planning (i.e. longer term strategic planning, budgeting and forecasting) is a key component in managing and driving business performance, but is often mired with conservatism, which can reduce the value that it delivers for many organizations, especially in today's market conditions. In many organizations, planning processes are inefficient and do not deliver the full value possible. Lengthy financial planning and cycle times can delay decision making, and if financial drivers