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Planning, budgeting and forecasting

Planning, Budgeting and Forecasting is a key component of how information is generated and processed, how decisions are made and how responses are formulated to steer the organisation and impact future performance.  The processes involved are tightly linked to many others, and involve and connect many people and functions across an organisation. The processes are critical for helping finance management understand where they are today, plan for where they want to be tomorrow and understand what steps are needed to be taken to ensure the organisation is able to stay on course. 

Many organisations fail to recognise the importance of appropriate planning, budgeting and forecasting, rather viewing the process as an untimely distraction for the financial year and reporting process. Too often, there is a loss of perspective behind why planning, budgeting and forecasting is performed, including what they want to achieve on a day to day basis and what metrics should be monitored and managed.   

Finance Advisory is able to offer a holistic view to improve organisational planning, budgeting and forecasting activities including the consideration to improve effectiveness over:

  • Integrating planning, budgeting and forecasting with corporate strategy.
  • Using forecasting properly to enhance corporate agility 
  • Applying process skills and discipline to monitor and manage forecast quality
  • Clarifying decision-making responsibilities within your organisation’s specific operating model
  • Exploiting technology to innovate, increase internal capability and implement more dynamic financial modelling and analytics.

Contact us to discuss how Deloitte can help improve your planning, budgeting and forecasting policies and processes, or to access case studies about how we’ve helped our clients..