Forecasting: Best Practices for Common Challenges

There has been significantly more conversation around forecasting and concepts such as Beyond Budgeting, but it is not clear whether these ideas are really gaining traction. Just how far have companies gone in bringing their forecasting methods up to date?

Not very far, apparently. In the 2013 AFP Risk Survey report, only 13% of respondents said their company had made significant changes to their forecasting and planning processes.

This guide lays out a roadmap for companies wishing to make significant changes in their approach to FP&A. It examines some of the common hurdles to effective forecasting and presents the related best practice lessons. Four practical case studies are presented, showcasing different approaches to forecasting and illustrating various stages of process maturity.

Contents

  • An Inflection Point
  • Common Problems and Best Practice Lessons
  • Practitioner Case Studies

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