How to Implement a Forecasting and Planning Tool – and get it right first time

It is being increasingly recognized that a planning tool is required for a forecasting and planning process.  The stalwart Excel has now been extended beyond its intended boundaries with management accountants building monsters that are beyond any quality assurance programme, littered with logic errors hidden in the formula and designed without the big picture view.

However, many models in planning applications have failed to deliver with seven figure sums being wasted. It is not uncommon for the forecasting model to be reengineered within 18 months of the original.  This “planning tool implementation” carnage is well documented. Whilst there was an excuse before, “it was new territory”, now this is not the case.

We must learn and apply the better practices that are becoming standards. If you want to migrate into the 21st century using a planning tool then this is the white paper for you!  This white paper will help you build a better annual planning tool, or improve your existing model.

Case studies and application providers are listed.

Why you need this whitepaper:

• Understand the foundation stones of better practice planning tool implementation
• Understand better practice model design and avoid the common implementation pitfalls
• To avoid the greatest mistake that many accountants make by using the excel model as a template for the new planning tool.
• To give you confidence to take control of this project ensuring that the planning tool consultants act as advisors and not project managers
• To understand why you should migrate from annual planning to quarterly rolling planning.
• Apply the checklists and templates designed to help you to implement QRF
• To help sell change to your management.

Table of Contents

1.Why the need for a planning tool

2.The foundation stones of a planning tool implementation process

3.What is a quarterly rolling forecast process?

4.The rules for implementing a planning tool

5.Making the planning tool sale to the SMT

6.Implementation steps in detail

7.Some “planning tool” forecasting case studies

8.The selection planning tool checklist

9.The main planning application tools

10.Forecasting reporting templates

11.QRF immediate steps

12.Presenter biography

13.Appendix 1: How a QRF can be laid out in a planning tool

14.Appendix 2: A suggested report format to the SMT

15.Appendix 3: Interview checklist for prospective project team members

16.Appendix 4: Implementing QRF checklist

17.Appendix 5: Performing a quarterly rolling forecast – checklist

18.Appendix 6: Budgeting, Forecasting and Planning Applications