Continuously evolving business strategies require continuous planning, reflecting the changing goals of the enterprise.
Our recent blog on the future of Excel generated — not unexpectedly — a fair bit of response.
For most FP&A millennials, it's hard to imagine a world without Excel. But even in acknowledging its impact, the question remains: is Excel sufficient to keep pace with the changing needs of the FP&A world?
We're peering into our crystal ball to get a glimpse of how financial forecasting is primed to change to become a more effective tool for financial planning and budgeting.
What's coming in the practice of forecasting? We explore how companies are leveraging new technologies and techniques to improve accuracy and efficiency of forecasts.
About a year and half ago, we started conducting a survey to better understand the practices and perceptions around Performance Management of the conference attendees.
Mitch Max is a featured presenter in Video #5 – “Habits of Highly Effective Business” on the Performance Management Edge series. Please check out this site. Mitch is a featured “expert” along with other colleagues in Performance Management. Created by Alan Stratton, PME provides regular (twice a month right now) videos on techniques in Performance Management designed to give you the “edge” in business. Highly recommended (and free!).
The second instalment of our survey on the Habits of Effective Planners is featured in a video segment that is now available on Performance Management Edge. Shortening the budget cycle – for those companies still following the traditional budget cycle model – is a critical task. Watch this short segment to learn three great techniques for shortening your cycle to improve quality while reducing effort and time. If you haven’t already signed up to watch this great series (new episodes at least twice a month), you can sign up on the site.
On the most recent episode of Performance Management Edge, Mitch answers a question by Safdar Imam: What is the role and importance of identifying correct “Activity Drivers” and “Resource Drivers” in planning/ managing profitability in service industries? This turned out to be too complex for one single response, and I chose to break it into a two-part response, with the first on Resource Drivers and the second on Activity Drivers. I’ll update when the second part is released. For both, I rely on the underlying framework of the CAM-I Cross.
I make the case that the use of fixed resource assignments certainly has its place, but for many organizations, it is critical to look at Time-Based assignments to more dynamically reflect the frequent changes that occur in many parts of service companies.
Part 2 of the video response to Safdar Imam’s question is now live at PerformanceManagementEdge.com. In searching for the elusive perfect activity driver, we frequently need to look to see what drivers are practically available, and use them in conjunction with factors to build a model efficiently. In the case of time-based drivers, building consumption models often requires us to use an activity driver – such as number of business days – that is not measured by cost object. While this gives us a true measure of activity consumption, a push-down of costs to the cost object level is then required.
rapidABC is live on the web! Contact us to find out how rapidABC provides companies with a highly-affordable capability to measure and improve business performance through advanced costing and profitability analytics.
Click here to visit the rapidABC website
Download a one-page synopsis by clicking here.
At @Anaplan #Hub2014 conference last month, we demonstrated two of our applications – one for Predictive Labor Modeling and one for Activity-Based Costing. The ABC app was selected for presentation at “Demo Jam”, hosted by Anaplan’s Chief Customer Officer Simon Tucker. Watch this 7 minute demonstration and discussion here: [video_embed video="97859564" parameters="autoplay=1&loop=1" mp4="" ogv="" placeholder="https://i.vimeocdn.com/video/478382428.webp?mw=500&mh=281" width="500" height="284"]
Presenting options for raising your organization's level of cost consciousness as a means to promote cost effective behavior across the company.
SAN FRANCISCO and TORONTO, May 8, 2014 – BetterVu, the performance management consulting firm and Anaplan partner, today announced that it will showcase two advanced applications using the Anaplan platform at Anaplan’s customer conference, Hub 2014, taking place May 12-14 in San Francisco.
The new focus on analytics and “big data” is having major changes on organizations, as they strive to focus on niche business areas as a more focused and analytical approach to driving performance improvement. Companies will be increasingly relying on micro-customized products, services, marketing approaches and channels as they seek to improve profitability.
With increasing electronic delivery, organizations are demanding more visual presentation of results, and “instantaneous” information.
A more rigorous approach to measuring and managing costs across multiple dimensions provides greater sustainable impact than across-the-board cuts, or short-term efforts to meet budgets. Central to this is the use of better tools and techniques to measure and – more importantly in my opinion – communicate cost measures in a transparent and actionable way.
Some of our colleagues are disappointed that more organizations have not truly “abandoned” budgets. What is apparent is that while many have not fully abandoned budgets, they have truly begun to understand those other concepts that enrich management practices.
PerformanceManagementEdge.com has posted the first of our four-part series on “Raising Your Cost Consciousness”. In the first instalment, Mitch Max examines some of the root causes of difficulty in managing costs in organizations.