As finance teams form closer ties to other parts of the business – from operating teams to supply chain functions – visionary CFOs are strengthening these relationships by placing connected planning at the center of their transformation efforts.
Connected planning breaks down information silos to eliminate inefficiencies between financial, corporate, and operational planning. It's a key step toward creating a connected operation that has fast access to insights and can make the right decisions, grasping opportunities and side-stepping risks.
Connected planning can deliver real-time scenario analysis. Different parts of an organization can harness this information to create a common plan, enabling the enterprise to fulfill demand more effectively. Connected planning also provides visibility and collaboration across the enterprise, while freeing up time for finance teams to focus on strategic initiatives.
From their position at the heart of the business, CFOs and finance teams are integral to orchestrating a connected planning agenda that drives growth.
Case study: Connecting planning for finance and supply chains
A CPG company was using hundreds of spreadsheets and outdated legacy tools to manage its supply chain and financial planning, which led to major discrepancies between forecasts and actual costs.
With a connected planning process and platform, it integrated finance and supply chain planning. Finance could now accurately evaluate its product costs and profitability and anticipate and act on market changes in real time.
The planning process used to take two weeks, now it's done in just two days. And the company can create demand scenarios and adjust production in five minutes when it used to take five days to analyze and react to changes in demand. With greater visibility, executives can make quick, fully informed decisions for growth.