Cloud-Analytics was employed to implement a series of key initiatives aimed at elevating the Planning, Budgeting, and Forecasting (PBF) processes for a Malaysia-based telecom company and effectively prioritise business cases.
Firstly, the development and deployment of standardised planning and business case templates across the organisation will promote consistency and efficiency in the planning process. These templates will serve as a common framework for gathering and analysing relevant data.
Secondly, a future state planning process should be established to improve the accuracy of annual plans, offering greater transparency regarding financial drivers, variance analysis, and individual accountability. This will enable a more robust evaluation of performance and facilitate informed decision-making.
Thirdly, efforts should be made to reduce the cycle time required to build plans and forecasts. By streamlining the financial planning process, resources can be allocated more efficiently, and valuable time can be saved. This includes consolidating and validating bottom-up plans and business cases, ensuring a swift and accurate compilation of financial information.
Lastly, it is important to develop and implement forecast process enhancements. These improvements will enable better decision-making by incorporating relevant data, market trends, and emerging opportunities, providing a more accurate view of the organisation’s future financial performance.
By focusing on these initiatives, the organisation can optimise its PBF practices and prioritise business cases effectively.
