Retailers are looking at how to manage the fluctuations in demand along with long-term supply chain challenges. Those with physical footprints are preserving and seeking cash while trying to protect their employees' health and safety. Our business partners are asking new questions and seeking urgent insight and guidance from their FP&A teams.
Now more than ever, FP&A teams must quickly modify their plans to everchanging markets and respond rapidly and with flexibility. The quarterly or monthly processes for updating financial forecasts can take days to weeks and is out of date as soon as it is finished. Having leading forecast processes aligned to financial goals and detailed operational plans requires solutions with the agility and scale. FP&A teams need to model key business drivers and various scenario analyses to support fast, insightful analysis. And it requires solutions that bring together all key financial and operational insights into a unified platform for decision-making
The world is operating under an extraordinary level of volatility, uncertainty, complexity, and ambiguity. As a result, organizations need to be adaptable, creative, and resilient….in other words…AGILE. Businesses must quickly modify their plans to everchanging markets and respond rapidly and with flexibility. Agility and adaptability allow leading change in a productive and cost-efficient way to ensure competitive advantage.
In this time of historic change and volatility, there has never been a greater premium placed on Finance and FP&A teams quickly providing insights to their organizations and business partners. The ability to leverage data – internal, external, structured, and unstructured – is the key to enabling organizations not just for survival, but for prosperity. This applies in our current stormy environment and in the “new normal” that lies beyond.
Stop struggling with the requests of multiple stakeholders, all of whom need different answers...and who want those answers five minutes ago. Provide executives with the high-level dashboards they need to identify trends. Give CFOs the flexibility to slice, dice, filter and sort the figures. And give yourself the power to create reports that are automatically updated, easily understood, and visually engaging.
The importance of planning and forecasting to both prepare for unforeseen circumstances as well as to react to them is more important than ever. Now is the time to leverage cloud technologies to enable better informed strategic decisions to differentiate and elevate your business. Join this virtual discussion led by Workday to learn more about next generation planning in the Manufacturing industry.