-- 73% of Best-in-Class companies take a combination of a top-down and
bottom-up approach to planning and budgeting
-- Best-in-Class companies are 102% more likely to utilize budgeting and
forecasting applications and 102% more likely to employ workflow automation
to guide employees through the budget process
-- Best-in-Class companies are more than twice as likely to support
budgeting/planning processes through the use of budgeting and forecasting
applications rather than relying primarily on spreadsheets
"Forecasting has become the mode by which companies report their expected
performance based on recent actual performance combined with knowledge
about the future, such as revenue backlog movement and sales pipeline
integrity. The accuracy of forecasts is becoming more important as top
management, board members and investors demand more predictability," says
Cindy Jutras, VP and Group Director, Aberdeen. "Best-in-Class companies are
far more likely to have ad-hoc 'trial close' capability (the ability to
produce an income statement, cash flow report, and balance sheet in a 'if
our fiscal period were to close today' scenario). This allows a more
immediate and accurate picture of actual business performance, and
therefore an improved ability to use that information to produce more
frequent and accurate forecast reports," adds David Hatch, Research
Director and co-author of the report.
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Contact Information: Media Contact: Cindy Jutras (617) 854-5247 Cindy.Jutras@aberdeen.com David Hatch (617) 854-5329 David.Hatch@aberdeen.com Aberdeen Harte-Hanks