The Global Planning Survey, commissioned by business performance management (BPM) specialist Cartesis, interviewed companies in the UK, U.S., France and Germany about their planning process. Questions surrounded objectives, best practices and satisfaction with planning strategies.
The study uncovered high levels of dissatisfaction with both the results of financial forecasting and the rift that continues to grow between strategic objectives and the operational tactics employed to achieve them.
Some of the problems encountered by respondents include difficulty in consolidating actuals into the plan and seeing specific plans' details and assumptions. These results point to a need for a more strategically aligned planning and performance methodology.
While almost 100 percent of companies surveyed have a financial plan, many express an inability to update it on a quarterly basis because of overwhelming complexity and detail. In fact, almost two-thirds of the organizations that took part in the survey update their financial plan only twice a year or less.
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