It’s time to reimagine scenario planning
Excel spreadsheets are useful for getting results with simple formulas, but they aren’t designed to handle large data volumes and complex scenarios. These limitations become even more apparent as business models change and market dynamics shift. As a result, finance teams often become overwhelmed and burnt out as they strive to meet tight deadlines with the tools available to them.
At the same time, the use of predictive planning technology is skyrocketing: one in four organizations already use predictive algorithms and machine learning productively to produce their plans and forecasts in less time and with more accurate results, according to BARC research.1
One thing is clear: a more efficient scenario planning process can uncover advantages for finance teams and their organizations. This guide addresses the limitations of traditional, spreadsheet-based scenario planning and lays out a streamlined approach. Finance teams in any organization can elevate their process – whether they’re seeking a step up from Excel or exploring AI and predictive planning.
Source: 1BARC, Predictive Planning and Forecasting on the Rise – Hype or Reality, 2022