Corporate planning, budgeting and forecasting, and the attendant reporting, can be a major factor in a company’s success or failure. Yet, the annual budgeting process for most companies is hardly ideal. It usually involves investing a great deal of time in coordinating with line-of-business managers who typically see little benefit in the effort because the result is usually an outdated budget that has little practical effect on their business. Spreadsheets—the default tool for most organisations—and communication based primarily on email, create more problems.
However, with the IBM® Performance Management solution, leading companies are now automating these critical processes, creating more useful plans, budgets and forecasts, and getting faster reports and data to fuel the “what is” and “what if” scenarios and dynamic plans that organisations need to compete in today’s unpredictable markets.