Resources

Future of Planning, Budgeting, Forecasting and Reporting

by Board

The one constant over the course of the past 2 years is change. Each country, city, community or organization has had to face different challenges in order to return to a position of stability and growth. While it’s clearly not possible to prepare for an unprecedented event, those organizations that had invested in modern efficiencies in their finance function fared better during, and now after, the most pressing crisis of a generation.

As the world changed, companies were forced to change with it, and this meant near-constant re-forecasting to provide vital insight to underpin strategic decisions. Under this extreme duress, it became clear that PBF and reporting are both vital and underinvested. So now, senior finance executives are urgently trying to speed up and simplify the process in order to survive in a rapidly changing landscape.

At first glance, FSN’s Budgeting, Planning, Forecasting and Reporting Survey 2022 sponsored by Board, appears to show little progress in the number of organizations taking their PBF transformation seriously, but in fact there is a returning momentum amongst previously paused projects. While the number of companies making significant changes to their PBF processes remains at around 33%, those that have completely transformed them in the last year has almost doubled from 5% to 9%.

Here are the key findings discussed in the report:

  • Making time for transformation
  • AI predicted to be the norm by 2030
  • Transformation leaders extend their lead

Download to view the Future of Planning, Budgeting, Forecasting and Reporting

Share
Was this article helpful?

Related Resources

Optimising Working Capital with Intelligent Automation
whitepapers | Automation

Optimising Working Capital with Intelligent Automation

2d
Real-Time Visibility: A Key Boardroom Agenda For Global Finance Leaders
whitepapers | Corporate Finance

Real-Time Visibility: A Key Boardroom Agenda For Global Finance Leaders

2d
2024 FX Navigator
whitepapers | Corporate Finance

2024 FX Navigator

3m

Other resources from Board

Global Planning Survey 2023: Key trends & takeaways for business leaders
Corporate Finance

Global Planning Survey 2023: Key trends & takeaways for business leaders

1y
Five key CFO priorities for 2023
Corporate Finance

Five key CFO priorities for 2023

1y
The FP&A Maturity Model: Achieving Intelligent Transformation
Corporate Finance

The FP&A Maturity Model: Achieving Intelligent Transformation

1y
The FP&A Board Maturity Model Report
Corporate Finance

The FP&A Board Maturity Model Report

3y
The Resurgent Finance Leader
Corporate Finance

The Resurgent Finance Leader

3y
Featured Case Study: How KPMG overcame their digitisation challenges
Accounting Software

Featured Case Study: How KPMG overcame their digitisation challenges

6y
Featured Case Study: Leaving spreadsheets behind in favour of a more innovative approach
Accounting Software

Featured Case Study: Leaving spreadsheets behind in favour of a more innova...

6y
Wisdom of Crowds® Business Intelligence Market Study
Big Data

Wisdom of Crowds® Business Intelligence Market Study

6y