Companies are ill-prepared to budget, forecast and report efficiently and to keep up with changing conditions, and they're largely off-base in budget and forecast numbers, according to the findings of a Business Performance Management (BPM) Forum study report. Financial professionals and company staff are spending too much time and inappropriate levels of resources to tackle budgeting and forecasting, sacrificing the agility necessary to keep up with the tumultuous economic climate. However, a vast majority are planning to make changes in 2008 - adopting new technology, improving underlying business processes, and enhancing collaboration - in order to keep pace with the rapidly changing environment and manage growth effectively.
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