Automation, cloud computing, and advanced analytics are important tools driving the transformation of the planning, budgeting, and forecasting processes for the finance function. But this is not plug-and-play technology. Finance needs an astute approach to process optimization, data management, finance-driven analysis, and even change management. APQC’s research reveals the potential of such tools for these three core finance processes, along with the most critical considerations.
Excerpted from APQC’s 2021 edition of Blueprint for Success: Planning, Budgeting, and Forecasting, this article details how finance can leverage emerging tools and includes results from APQC’s Open Standards Benchmarking research into state of implementation.