Market volatility is here to stay.
The road to business as usual is uncertain, and it’s hard to envision what that new normal will entail. Despite the current market phase, we anticipate ongoing fluctuations in the future, much like we’ve always experienced. The game-changer is our digitalised world, demanding quicker adaptation and heightened business flexibility than ever before.
To optimise business performance in this new market, organisations must prioritise three key areas:
Automation for Streamlined Processes and Timely Data Insights
Excel spreadsheets may appear adequate for managing financial performance. However, they have the potential to impede productivity, lead to inaccuracies in data entry, and raise compliance concerns. Implementing automation has the capacity to enhance the effectiveness of finance teams by as much as 30%.
Moreover, spreadsheets are limited in their ability to provide instant data insights, a critical capability in today’s digital business environment.
Modern planning applications provide instant access to information from any internet-connected device, giving you the flexibility to stay connected on the go. By automating routine tasks, finance teams can redirect their efforts towards strategic, revenue-generating initiatives. The valuable insights automation empowers organisations to make data-driven decisions quickly, enhancing their agility and adaptability in a dynamic business environment.
Integrated Planning and Reporting for Streamlined Workflows
Planning and reporting are essential, especially during times of uncertainty. Organisations can no longer rely on irregular and ad-hoc methods to keep pace with rapid market changes.
Scalable financial modelling across revenue, CAPEX, OPEX, payroll, projects, and cash flow projection is made possible with integrated planning and reporting tools. Additionally, modern planning tools offer dashboards for timely business intelligence, improved collaboration, and consolidation of multiple data sources, providing a comprehensive view of business operations.
Integrated financial planning and reporting provide a new layer of financial robustness, enhancing business resilience during economic downturns.
Active Resource Planning for Business Continuity
A solid financial planning strategy is crucial for finance teams to navigate any business disruptions. It’s essential to have an active plan in place, especially during uncertain times. Using automation and advanced financial planning tools, finance teams can easily model different scenarios, plan for unexpected expenses, and make strategic financial adjustments without causing significant impact. This proactive approach ensures that businesses adapt and thrive, regardless of the market conditions.
Finance teams must embrace automation to gain business agility and optimise financial performance in the new digital business environment. The combination of integrated planning and reporting, active resource planning, and timely business insights empowers finance teams to rapidly scale operations in line with market changes, ensuring greater resilience and agility in volatile times.
