Business planning encompasses all of the forward-looking activities in which companies routinely engage, such as sales, production and head-count planning as well as budgeting. Among the several benefits it conveys, planning helps to get everyone onto the same page to ensure that activities are coordinated. When they are, it becomes possible to understand the impacts of policies and actions in one part of the company on others and the organization as a whole.
Today, budgeting and operational planning efforts are typically only loosely connected. In contrast, next-generation business planning closely integrates unit-level operational plans with financial planning. Relying on information technology, it enables companies plan faster with less effort while achieving greater accuracy and agility.
Listen to Robert Kugel, SVP and Research Director at Ventana Research as he details the key insights and provides best practices from our new benchmark research, Next Generation Business Planning.