In times of rapidly changing business conditions, organizations must adapt with agility to ensure business continuity and success. The ability to move through rapid planning, budgeting and review cycles with tools that facilitate collaborative work are of specific importance. Of course these capabilities are valuable in steady-state conditions, but they will generate additional advantages in times of stress when the organization needs to quickly adjust to unexpected events.
Integrated Business Planning (IBP) is a business-focused, technology-enabled approach for a high- participation, collaborative, action-oriented style of forecasting, planning, budgeting and reviewing built on frequent, short sprints. These sprints enable companies to plan and refine those plans at shorter intervals so the cycles can be more frequent. Higher frequency promotes accuracy because refinements are made at shorter intervals and provide agility in responding to market or competitive changes.
