Research estimates the cost of complexity at up to five percent of sales for global organizations. What’s more, most executives view internal complexities as a key barrier to growth – one that needs to be better managed. By extension, complexity management is a challenge that’s becoming of similar importance to finance executives – especially those in treasury and FP&A roles.
The current processes and structures that organizations use to plan, manage and govern their businesses stand in the way of effective complexity management. The underlying problem: inadequate integration. Despite technology investments, complex organizations have difficulty achieving interconnected planning and performance management objectives, while also making these processes more effective and efficient.
This is where prescriptive analytics come in. When correctly embedded into financial processes, it enables four incremental capabilities that result in vast improvements to rolling forecasts, scenario planning, integrated business planning, tax planning, and profit, cash flow, FX exposure forecasting.
At FinNext 2018, I’ll be presenting a session, “Leveraging Prescriptive Analytics to Close Complexity Gaps”. It addresses the nature of prescriptive analytics and how the processes it enables can play a pivotal role in transforming finance into more effective business partners that drive strategy execution and profitable growth.
So in order to implement prescriptive analytics into your organization and guide both your personal career and your company’s profits on the path to growth, attend FinNext 2018 and be sure to listen in on my session.
For a further look at the content featured at this event, please browse through the full list of Educational Breakout Sessions.
Founder, IBP Collaborative