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Building Agility Through Continuous Planning

Finance executives need to rethink their financial planning and decision-making processes to make them faster, more agile and more predictive to achieve their objectives under any circumstances.

Recent turbulence has illustrated the value of what Ventana Research calls “integrated business planning.” It’s an approach that uses technology to connect all the forward-looking activities in which companies engage, including marketing, sales, customer, supply chain and workforce planning as well as budgeting. An integrated approach supports a high-participation, collaborative, action-oriented style of planning and decision-making built on frequent, short, iterative sprints. This promotes more accurate plans because refinements are made at shorter intervals, and shorter planning cycles enable companies to achieve greater agility when responding to market or competitive changes. An ongoing, collaborative dialogue about achieving objectives brings together finance, line-of-business managers and executives to promote better ongoing alignment and buy-in to the planning process and the resulting plans.

 
 

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About the Author

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Robert Kugel

SVP and Research Director
Ventana Research

Robert Kugel is responsible for the Office of Finance and business research, focusing on the intersection of information technology with the finance organization and business. His research agenda includes the application of IT to finance and business process optimization, looking particularly at ERP and continuous accounting, financial performance management, predictive planning, price and revenue management, revenue and lease accounting and robotic finance.