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CFMS - Infor PM10 The engine for forecasting

Competition is fiercer now than it has ever been. Requirements for reporting up to date actuals are greater than ever and the need to analyse data and spot trends to gain competitive advantage is crucial.

Most organisation’s reporting reflects this need, with weekly or monthly reporting of financial data the norm and often more frequent reporting of operational and sales related data.

Why then is that planning, certainly the overall financial plan or budget, tends to be done on a much less frequent basis, usually annually?
Does the organisation not have a requirement for up to date planning?
Is it acceptable to measure performance, and make vital decisions, against plans that may no longer be applicable?

Many companies still only set an annual budget and believe that they are managing their businesses when comparing actual performance against this “cast in stone” set of numbers.

Whilst in some cases this may be true, most organisations would be more competitive if they had the ability to reforecast on a regular basis; better performance management.