Forecasting beyond the short-term position
Visibility, efficiency and control.
Treasurers, finance directors and accounting professionals of all companies have had this as a mantra for many years, but does existing, established software really meet the requirement and take full advantage of modern technology?
Complex ERP and corporate treasury software provides highly configurable tools for individual companies to model their businesses and manage transaction processing. Excellent data visualisation products such as Tableau and Microsoft Power BI allow finance teams to create a graphical representation of that environment. These tools generally use current and past data to project a short term position forward, but this is only one element of forecasting.
The fundamental flaw with this approach is that each company’s existing data landscape needs to be individually modelled and reported. This ‘locks in’ the current thinking and does not allow for strategic planning. Realistically the result is just a slightly more efficient view of ‘business as usual’.
How can companies learn about and introduce improvements? How can they remain agile enough to take advantage of new technology and new ideas? Can they quickly respond to business changes or test new business plans?
Often the answer to these questions is to bring in external consulting to advise, and time-consuming one-off operational projects, detracting from real strategic planning and forecasting.
At Crowd Data Systems, we are challenging this traditional thinking. Our cloud-based solution provides standardised forecasting and planning models, continuously enhanced by the community of users and integrated machine learning. Whilst each company has its own data and independent views, all companies benefit from a curated approach to the process, helping them with business planning or financial forecasting. Easy multi-scenario views become the standard and not an afterthought. By working within broadly common structures, companies benefit from a true change of the resource allocation.
Look to the future not the past. Try now for FREE at www.crowddatasystems.com