COVID-19, oil price shocks and travel bans are all creating uncertainty regarding the current business environment. And as the impact of COVID-19 becomes more permanent, it is important that businesses are proactive in assessing their capability to withstand disruption and the options they have to identify, and respond to, potential opportunities. This article discusses the role scenario-based forecasting can play in navigating company finances through this level of uncertainty and disruption.
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What We Are Seeing
With the global spread of COVID-19, businesses need to be proactive in assessing their capability to withstand disruption from both an operational and a financial standpoint. Financial forecasting is a key tool that can help businesses in this effort, providing leaders with the information they need to take action as well as instill confidence in their stakeholders. This article outlines the questions companies need to ask as they develop realistic, detailed and extended financial forecasting.
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