Ventana Research today launched its latest benchmark research initiative studying business planning. This research will examine and analyze existing methods for budgeting and planning across business, compare them to potentially better, more continuous approaches and assess the types of tools that organizations use and related best practices. It will also investigate the need for business modeling and analytics – especially forward-looking approaches such as predictive analytics – and will explore the needs of analysts, managers and management in modern business planning processes.
Ventana Research defines “business planning” as encompassing all of the forward-looking activities in which companies routinely engage, such as customer, IT, marketing, sales, project, S&OP, supply chain and workforce planning as well as financial budgeting and planning. While critically important for managing performance and coordinating cross-functional efforts, business planning today is a relic – a process hemmed in by obsolete conceptions of what it can be. Companies today can fundamentally change how they plan thanks to the maturation of information technology, with new systems simultaneously supporting better business planning and traditional budgeting. But before organizations can take the first step to fundamentally changing how they plan into the next generation, they first must realize that a more effective, connected and continuous process is possible and then must decide whether it’s worth the investment.
The benchmark research will investigate what types of organizations are interested in investing in improvements to business planning, why they are interested, where they plan to implement improvements and, with respect to software and technology, who in the organization makes the purchase decisions, on what time frame and using what selection criteria. This research will also explore the value of more active and integrated processes including those that are collaborative and continuous, and it will assess the maturity and performance of the people, processes, analytics, information, software and systems in today’s enterprise.
“Businesses understand the importance of planning, but many still have not adopted better planning processes and systems,” said Robert Kugel, SVP & Research Director. “If executives in sales, operations, finance and IT departments are to consider change and adopt truly integrated operational and financial business planning, they must understand the real cost of maintaining the status quo.”
Those interested in learning more about or participating in this benchmark research can do so at www.ventanaresearch.com/benchmark/office_of_finance/business_planning. Ventana Research, a leading business technology research and advisory services firm, provides qualified research participants with an incentive and complementary report, which includes both key insights and best practices from the benchmark research.
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Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk.
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