Rolling Forecasts: Future Data Based Budgeting

OVERVIEW

The current technology driven turbulent business environment presents many challenges to business managers. One primary challenge is the ability to predict and plan for the future which is unexpectedly unpredictable. Changes are constant. Companies struggle to find ways to find manage resources and find ways to thrive and survive in this turbulent business environment.

Traditional budgeting has been overtaken by these constantly changing events as it is currently outdated and irrelevant for the following reasons:

• Too time consuming
• Based on assumptions that may not be valid
• Focuses on past events not future possibilities
• Creates a “use it” or “lose it” mentality
• Restricts creative thinking in resource management

WHY SHOULD YOU ATTEND

Rolling forecasts are the wave of the future. They are rapidly replacing traditional budgeting. This webinar discusses rolling forecast vs. traditional budget and outlines the critical differences and advantages of rolling forecasts over traditional budgeting. It challenges finance personnel to think outside the box and embrace the benefits of rolling forecast.

This webinar on rolling forecast vs. budget will focus on:

• Using key business drivers and cast to influence and impact the future
• Why rolling forecasts are critical in today’s turbulent environment
• Definition of key business drivers as the basis for rolling forecasts
• The relevance of cash as key business driver
• The core components of rolling forecasts and rolling forecast best practices
• The use of technology
• Simple techniques to make it happen. From dashboards to driver based forecasts
• Simple samples and exercises to reinforce teaching points
• Using “What If” analogies to validate forecasts
• Six Step Excel based process to understand & implement Rolling Forecasts
• Two Step Excel based process to combine rolling forecasts with budget & allocation of resources
• Benefits of rolling forecasts
• Pitfalls to prevent
• Selling the culture changes to make rolling forecasts acceptable

AREAS COVERED

• Why rolling forecasts are critical in today’s turbulent and constantly changing environment
• The five core components of rolling forecasts with simple explanations and exercise to reinforce the learning points
• The use of key business drivers and cash to influence and impact the future
• The role and use of technology in rolling forecasts and rolling forecast best practices
• How to use “What If” analogies to validate rolling forecasts 
• How to focus on future possibilities rather than past events to manage resources
• How to move from data based budgeting to driver passed forecasting as the foundation for resource allocation and utilization

LEARNING OBJECTIVES

Rolling Forecast contrasted with traditional budgeting as the wave of the future. Focusing on the impact of Key Business Drivers on the business.  Establishing a forecasting process to cope with turbulent time. Includes the creation of Key Business Drivers.  Sample formats and attendee exercises provided for start-up rolling forecast. Attendees take away a broad and basic understanding of Rolling Forecasts, benefits of Rolling Forecast and how to migrate to Rolling Forecasts with simple tools & techniques. Includes a 6 step process to understand & implement Rolling Forecasts plus a 2 step process to integrate with the budgeting system.

WHO WILL BENEFIT

ALL organizations with desire to update their forecasting and budgeting processes & procedures to the new wave of Rolling Forecasts to cope with the ever changing technology based business environment.

For more detail please click on this below link:

https://bit.ly/2yQD0vK

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