Scenario Planning: Readiness Today for an Ever-changing Tomorrow
As history has shown us, the best-laid plans often change. Whether it's rapidly changing market conditions, as we've experienced in 2020, internal restructuring or a spike in sales, you need to be agile in your approach to planning. For many organizations, it can be a challenge to accurately budget, plan and forecast. And when faced with disruption, it becomes even more apparent how necessary these core financial processes are to the success of the organization.
To do this effectively, finance professionals need access to up-to-date data to determine what impact market fluctuations have had on sales, staffing, capital requirements and cash flow. The practice of taking stock of the business and its assets is at the foundation of scenario planning.