Current solutions are not helping business planners to make accurate decisions. They are holding back their potential.
The conclusion comes from a recent Nucleus Research study. It found that more than 72 million workers engage in business planning worldwide. Disconnected, time-consuming planning processes are offering hurdles.
The main reason is the lack of a single version of the truth. Inconsistent processes for cascading down or rolling up changes are also hurting productivity.
Rebecca Wettemann, vice president of Research, Nucleus Research, and author of the Guidebook, called for a rethink.
“With so many millions of workers involved in planning, there’s a broad industry need for new strategies and solutions to aggregate real-time data and accelerate decision-making,” she said.
The results set the case for Connected Planning. Championed by Anaplan, the approach speeds up decisions using actual real-time data. It also focuses on future planning using advanced and predictive analytics.
“A Connected Planning approach improves operations with accelerated quota adjustment to drive desired business outcomes, faster reporting and guidance, better project cost control, and improved resource allocation,” said Wettemann.
“Connected Planning with the Anaplan platform gives companies a new way to run their businesses in a modern business climate where the stakes are high,” added Simon Tucker, chief planning officer, Anaplan.
The Nucleus Research study showed that Anaplan's Connected Planning increases planning productivity by an average of 30%.
“Before we implemented Anaplan, we used spreadsheets for planning functions in both Sales and Finance. These were often massive files that existed in hundreds of versions and were painfully slow to open," said Ed Tang, vice president of Strategic Finance, Business Analytics, and GTM Operations at Box.
“Now we have a trusted, easy-to-use cloud-based platform for broader collaboration, improved alignment across departments, and better decision-making,” he added.