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The pandemic is causing boards of directors and C-suite executives to take a new look at net cash flow. Traditional budgeting is simply too slow and too rigid to keep up with the rapidly changing business environment caused by Covid-19. There is too much volatility, complexity, and uncertainty right now.… Read More
At no time has agility been more vital for organizations everywhere as businesses are trying to find a foothold amid the global disruption of the COVID-19 pandemic. Key to this effort is modern planning, which has become a business imperative because of what it offers: the ability to build multiple… Read More
Plans, forecasts, budgets, and day-to-day operations have all been toppled by the global COVID-19 pandemic. As entire industries still face an unsure future for demand and revenues, even still relatively robust businesses are operating in scenarios they’ve never faced before—and that many didn’t plan for. The pandemic has served as… Read More
Finance digital transformation is the implementation and use of digital technologies to improve the efficiency, insight, and agility of finance teams. New research sheds light on the key pillars of finance digital transformation, including cloud planning platforms, automation, data optimization, predictive analysis, and modern planning processes. Why is finance digital… Read More
When Julie Bishop McCollum arrived as the new CFO of Diverzify last year, she found a business growing so fast that its planning processes couldn’t keep up. “When I came onboard in the spring of 2019, they were running their business pretty much off of Excel spreadsheets,” recalls McCollum. A… Read More
In today’s unpredictable world, business planning is a necessity. And its value is expanding beyond its original purpose of financial planning and analysis to include other critical areas of the business, such as workforce planning. I sat down with Ethan Carlson, who is an expert on business planning, to learn… Read More
Many businesses are shifting into recovery mode after the economic sideswipe caused by COVID-19 earlier this year. While it’s too soon to divine the lasting implications of this pandemic, most organizational leaders anticipate there will be echoes well beyond 2020. For many businesses, COVID-19 has fundamentally changed expense structures. Travel… Read More
Many finance teams consider board reports the most challenging type of report that they put together. And, in many ways, it’s because board members want so much more than numbers, such as nonfinancial information and customized analysis. That’s doubly true during a pandemic. Standard slide templates and data charts may… Read More
The COVID-19 pandemic forced companies of all sizes to scrap their business plans for 2020 and attempt to come up with new ones even though so much is unknown and changing so fast. Indeed, many companies are now faced with scenario planning at a level they’ve never done before. We’ve seen companies… Read More
Way back when, financial professionals had one objective and one objective only: accurately track past performance and explain why the results turned out as they did. Today, however, businesses are operating in uncharted territory, and the old ways of collecting data and creating reports are essentially useless. That’s because rigid,… Read More
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