登录查看更多内容

What do you do if your budgeting and forecasting process is disrupted by new technology?

由人工智能和领英社区提供技术支持

When new technology shakes up your budgeting and forecasting process, it can feel like navigating through a storm without a compass. With the rapid pace of technological change, it's not unusual for businesses to find their tried-and-true methods suddenly outdated or inefficient. Instead of viewing this disruption as a setback, consider it an opportunity to enhance your financial strategies and embrace innovation that can lead to more accurate and efficient outcomes.

此文章中的业界达人

由社区从 7 条内容中精选。了解更多

Sanjeev Bhandarkar

A rich experience of 35 years in Finance, Accounts and Commercial
Achraf MESBAHI

Indirect Tax Director , with focus on Tax technologies, E-invoicing & reporting

1 Embrace Change

When confronted with new technology that disrupts your budgeting and forecasting, the first step is to embrace the change. Understand that advancements in technology are inevitable and can bring significant improvements to your processes. Take the time to learn about the new tools and systems at your disposal. This might involve training sessions or workshops to get up to speed. Remember, the goal is to use technology to make your financial planning more accurate, faster, and more responsive to changes in the business environment.

添加您的观点

Achraf MESBAHI

Indirect Tax Director , with focus on Tax technologies, E-invoicing & reporting
举报内容
Identify how the new technology can help in the current process, what are the current and future problems it could address, and if it can open the door to explore areas not covered yet due to data and process complexity and structure.

已翻译

赞
Zach Wiley

Senior Director of Finance | Strategic Business Partner, FP&A
举报内容
Embrace the possibilities. Carefully assess the implications and opportunities new technology can bring to the business with an eye on planning process enhancement and improvement.

已翻译

赞
Pinaki Chakraborty

Head of Finance, legal & IT in ARGO-HYTOS, a European MNC, part of VOITH Grp, having finance leadership experience about 30 yrs in TATA Grp and MNCs
举报内容
1st of all we should not see new technology a reason of hindrance and disruption, rather we need to learn the minimum things to use it potentially and take the advantage of the new technology to have an improvement and edge overt the existing process.

已翻译

赞
Oscar Morral

Head of Finance at fundcraft
举报内容
When your budgeting and forecasting process is disrupted by new technology, embrace the change with a mindset of being a "low ego" individual. Technology can enhance productivity and align efforts to bring more value to the business. Embracing these advancements, learning new tools, and adapting processes accordingly are crucial steps to staying competitive and effective.

已翻译

赞

加载更多内容

2 Assess Impact

Evaluate the impact of the new technology on your current budgeting and forecasting process. Determine which aspects of your process are affected and to what extent. This assessment should be thorough, considering both the short-term adjustments needed and the long-term implications for your financial strategy. Consider both the costs and benefits of integrating the new technology, and weigh them against your business objectives and resources.

添加您的观点

3 Update Skills

To effectively integrate new technology into your budgeting and forecasting, updating your skills and those of your team is crucial. This might mean investing in training or hiring new staff with the necessary expertise. Ensure everyone involved understands how to use the new tools efficiently and can leverage them to improve your financial processes. A team that is well-versed in the latest technology will be more adaptable and better equipped to handle future advancements.

添加您的观点

Sanjeev Bhandarkar

A rich experience of 35 years in Finance, Accounts and Commercial
举报内容
Adapt new technology with the required skill set (you and your team) Make a new process, execute and monitor it (trial version) Once found in line, roll out.

已翻译

赞

4 Revise Processes

With a clear understanding of how the new technology affects your operations, it's time to revise your budgeting and forecasting processes. This could involve redefining roles, adopting new methodologies, or changing data management practices. The aim is to align your processes with the capabilities of the technology to maximize efficiency and accuracy. Make sure to document these changes clearly so that everyone involved has a reference point for the new procedures.

添加您的观点

5 Monitor Progress

After implementing new technology, it's essential to monitor progress and make adjustments as necessary. Set up metrics to evaluate the effectiveness of the technology in improving your budgeting and forecasting. Be prepared to tweak your processes based on feedback and performance data. Continuous monitoring ensures that you are getting the most out of the new technology and that your financial planning remains on track.

添加您的观点

6 Stay Informed

Lastly, staying informed about emerging technologies and industry trends is critical for maintaining an effective budgeting and forecasting process. The business landscape is constantly evolving, and what's new today might be obsolete tomorrow. Keep an eye on developments that could affect your business and be ready to adapt your strategies accordingly. By staying informed, you can anticipate changes rather than react to them, keeping your financial planning ahead of the curve.

添加您的观点

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

添加您的观点

Swapnil Gaonkar

Budget Analyst I Network Operation Centre Specialist I General Manager-Adani Electricity I Ex-Reliance Energy I Ex-Emerson Network Power I Mumbai University I VJTI Mumbai
举报内容
1) Changes in internal processes can affect customer experience. For instance, more accurate forecasting could lead to better stock management, which in turn can improve customer satisfaction due to better product availability. 2) The transition to a new technology might change or require reevaluation of vendor relationships. Partnerships with vendors who offer strong after-sale support and training can be invaluable during the transition period. I think these considerations can also influence how a company implements new technology and can be as important as the steps themselves in ensuring a successful adaptation.

已翻译

赞

Budgeting & Forecasting

+ 关注

给文章评分

我们借助人工智能创建了此文章。您认为这篇文章怎么样？

很棒不太好

举报此文章

查看全部

What do you do if your budgeting and forecasting process is disrupted by new technology?

1

2

3

4

5

6

7

1 Embrace Change

2 Assess Impact

3 Update Skills

4 Revise Processes

5 Monitor Progress

6 Stay Informed

7 Here’s what else to consider

Budgeting & Forecasting

给文章评分

感谢您的反馈

更多Budgeting & Forecasting相关文章

更多相关阅读内容

What do you do if your budgeting and forecasting process is disrupted by new technology?

1

2

3

4

5

6

7

1 Embrace Change

2 Assess Impact

3 Update Skills

4 Revise Processes

5 Monitor Progress

6 Stay Informed

7 Here’s what else to consider

Budgeting & Forecasting

给文章评分

感谢您的反馈

查看其他技能