This article will break down the best-in-class corporate performance management solutions as described in the e-book “Enabling World-Class Decisions” Reporting and analysis, previously a centralized, corporate activity with an executive audience, has evolved into an increasingly democratic practice. Today, leading organizations are “democratizing” information by making relevant ad-hoc analysis, reports and dashboards available near real-time for rank and file employees. In doing so, organizations empower those employees to make world-class decisions, especially compared to competitors that lack modern CPM technologies and have policies that limit access to much of their data. According to
This article will describe the importance of forecasting and how it differs from budgeting. Why is forecasting a good practice for all organizations? Here are five reasons: A forecast is usually a much quicker process and involves fewer employees. Forecasts, in general, are entered at the general ledger account level, while detailed templates, such as personnel templates, are not used. A budget is a company’s intention for the coming year, while a forecast is the most up-to-date expectation of what will happen over the remaining months of the year. The budget is finalized prior to the start of the year while a forecast can be created monthly or quarterly once the year has started and actual
