Enterprise Performance Management (EPM) is largely about anticipating needs. From budgeting to forecasting and planning, predictive intelligence is now empowering teams to conduct accurate scenario modelling based on real information. Making sense of uncertainty, this gives businesses the power to plan for the future with both confidence and accuracy.
Making Informed Financial Decisions: Embracing Digital Solutions
There’s no doubt that the world is infinitely more complex than just decades ago – and this complexity continues to increase at an exponential rate. CFOs are hard-pressed to keep pace, making sense of dynamic markets and acting with certainty to protect the financial interests of the business.
Unfortunately, many organisations are still using archaic spreadsheets for financial planning. BizData cites “unreported data errors, dark spots in reporting, lost data, unreliable documentation and a contribution to a poor organisational data culture” as key reasons to move away from Excel planning processes.
With advanced EPM solutions easily available on the market, however, financial planning activities are largely automated, human error is eliminated, accuracy is enhanced, and finance teams are freed up to focus on more value adding tasks – all while predictive intelligence continues to augment EPM and drive greater decision-making power.
Transforming Finance with Total Predictability
Predictive intelligence leverages predictive analytics – a form of advanced analytics. According to Gartner, predictive analytics allows finance teams to gain unmatched access to real-time data to answer the pertinent question; “what is likely to happen?”, utilising techniques such as:
The Benefits of Predictive Intelligence in Finance
Today’s out-of-the-box predictive planning solutions offer a wealth of benefits, effortlessly taking businesses from spreadsheet headaches to actionable insights. Users enjoy:
In this fast-moving, data-driven world, financial planning demands the ability to make intelligent correlations between financial, operational, and external data. With predictive intelligence, this becomes a reality.