Budgeting and Forecasting

In challenging, competitive business landscapes it is vital for any organization to have the means to anticipate results and react quickly to changing conditions in order to drive optimal performance.

Yet many organizations today make use of manual or spreadsheet-based budgeting processes. These processes are usually time-consuming, with a proliferation of spreadsheets keeping your finance team busy until late into the night. Alternatively, budgets are constructed or amended without input from all stake-holders, resulting in a lack of accountability for actual results.

MCi can help your organisation get in top of your budgeting and forecasting process

MCI has extensive experience in implementing best-practice collaborative planning solutions for businesses in various industries. Deploying IBM Cognos or specialized custom tools, our consultants can help you:

  • Automate your planning process and reduce turn-around time for budgets and forecasts.
  • Manage simultaneous top-down and bottom-up planning processes, helping you to align strategic and operational goals.
  • Implement highly collaborative, zero-based planning solutions with best-practice input templates to facilitate contributions from across your organization.
  • Drive collaboration between functions through automated transfer pricing and inter-divisional transactions.
  • Implement driver-based planning solutions to connect results to business drivers and ensure the transparency of the end result.
  • Set up sophisticated what-if and scenario analysis models to test assumptions against your budgets and forecasts and adapt your business to changing conditions.
  • Easily create multiple versions of a plan each with its own set of assumptions and results
  • Broaden your horizon by migrating to a continuous planning environment.
  • Produce timely, reliable plans.

Is your organisation facing any of these challenges?

  • Tedious, time consuming budgeting processes?
  • No ownership and accountability for the final budget?
  • Difficult to adjust budgets to suit changed assumptions?
  • Difficult to explain how results were arrived at?
  • No confidence in the final reports?

Budgeting and Forecasting Benefits

  • Fast turn-around on your budgeting and forecasting processes
  • Clear and easy alignment of top-down strategic goals and bottom-up operational plans
  • Wide participation in the budgeting process to ensure accountability
  • Driver-based techniques to ensure transparency and create flexibility
  • What-if and scenario analysis capability to test changing assumptions
  • Breaking out of the annual budgeting cycle and moving towards continuous planning
  • Producing accurate results which you can trust