As #managers face increasing #volatility and #uncertainty, #longrangeplanning is more important than ever. #IBP provides a structured process for connecting #strategicpriorities to #tacticalexecution across the #enterprise. By integrating #financialplanning, #salesplanning, #supplychainplanning and more into one #streamlinedprocess, #IBP enables #managers to #adaptquickly to changing conditions.
The key #benefits of #IBP for #longrangeplanning include:
#Alignment across the #organization - With IBP, all functions work together to build plans based on #commonassumptions and #sharedgoals. This prevents #silos and #misalignment.
#Agility and #flexibility - IBP links #strategy to #execution, so as #businessconditions change, plans can be rapidly adjusted. #Whatifscenario modeling capabilities allow for #contingencyplanning.
Better #forecasting - By #integratingdata across #sales, #marketing, #operations and #finance, IBP provides a more #accuratepicture of projected performance. Plans are grounded in reality, not wishful thinking.
#Riskmanagement - IBP enables managers to spot potential #obstacles while there is still time to adjust. Resources can be redirected as needed to #mitigaterisks.
To leverage IBP for #longrangeplanning, managers should:
Define 3-5 year #strategicpriorities and #goals
Develop #macroeconomics assumptions regarding #growthrates, #inflation, #interestrates, etc.
Model various #scenarios and #contingencies
Establish #keyperformanceindicators to measure #strategicprogress
Ensure all functions are utilizing #commonassumptions and #metrics
#Review and #update the #longrangeplan at least annually
#Align short-term and #annualoperatingplans to the #longrangeplan
With the right process and #technologyfoundations in place, IBP can transform #longrangeplanning from an academic exercise into an #integralpart of how an #organization charts its course for #profitablegrowth.
Built-in #analytics provide the #visibility to continuously #monitorperformance and make course corrections as needed.
IBP enables managers to #planwithconfidence despite an #uncertainfuture.
#Transform your #business. Transform your #future.
#BusinessTransformation starts here
At Smart Union, we help our clients #transform their #business through #insightfulplanning, #budgeting, #reporting and #analysis.
Using #bestofbreed #planning and #analytics solutions, we help #managers #align their #operationalplans with their #strategicgoals, #empowering teams to become #collaborative, #insightdriven, and #adaptable.
We leverage strong #technicalcapabilities and a #deepunderstanding of our clients’ #businessenvironment to create a #robustframework for #assessing and #managingperformance toward #clearobjectives.
Our #analysis, #recommendations and #consultativeapproach provide our clients with an #actionableappraisal of #businessperformance and #areasofkeyfocus, in as close to #realtime as possible.
We #partner #boldleaders. #Transformingbusiness through #insight and #technology. #Transforming the #future.