Why is Integrated Business Planning important to CFO and the Office of Finance.

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What is Integrated Business Planning?

Enables organizations to optimize resource allocation across different functions. It helps identify bottlenecks, allocate resources effectively, and prioritize initiatives that yield the highest returns, leading to improved efficiency and cost savings.

Traditional Budgeting vs Integrated Business Planning:

Traditional planning processes often involve breaking down data silos because departments work independently and don't share their issues so key areas get overlooked in a group budget. IBP eliminates these silos, resulting in more accurate planning that reflects all parts of your business.

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Why is Integrated Business Planning Important:

ensures that your organization follows its stated purpose, long-term goals, and available resources. Organizations with strategies and plans know how to respond to day-to-day issues in readiness for the future.

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The annual budgeting process is still a key focus areas. The annual budgeting process is very intense process that is undertaken for about 3 months as part of driving the final budget presentation to senior management and the board of directors.

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A lot has changed with the budgeting cycle over my 35+ year career in accounting and finance. In the early days back in the 1990s spreadsheets were prepared on a disk and then sent out to the various entities. The spreadsheets were then completed and the disk was sent back to corporate for consolidation. Meetings were held either on site or via conference call to discuss the budget for the particular entity.

In late 1990s to early 2000s there was a movement started moved away from Microsoft Excel towards business analytical tools like Cognos Planning or Comeshare or other solutions.

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It is now 2024 and the business analytical tools have expanded to include more vendors like Board or IBM Planning Analytics or Jedox or OneStream Software or Datarails or Workday Adaptive Planning or other solutions.

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Business Analytics has played a key role as way to support predictable analytics. Predictable analytics help drive better budgeting practices as part of the overall integrated business planning cycle:

1. Blog – The importance of Capital Planning and Forecasting – Public and Private Organizations - https://www.dhirubhai.net/pulse/importance-capital-planning-forecasting-paul-young-txqpc/
2. Blog – Why is Free Cash Flow Reporting a key part of the Financial Analysis Planning, and Reporting cycle - https://www.dhirubhai.net/pulse/importance-free-cash-flow-statements-paul-young-nhu8c/ or https://medium.com/@paulyoung_81567/what-is-ebitda-and-why-is-edbita-important-to-organizations-daeda18ad017
3. Blog – Ways that Scenario Planning is Essential for your Business Plan - https://www.dhirubhai.net/posts/paul-young-055632b_6-ways-scenario-planning-is-essential-for-activity-7086384141918752768-P7cE?utm_source=share&utm_medium=member_desktop
4. Close, consolidate, and reporting - https://www.slideshare.net/paulyoungcga/close-consolidpate-and-reporting-cyclepptx-256864692 ??
5. What is GAP Analysis and its Importance - https://www.dhirubhai.net/pulse/importance-gap-analysis-paul-young-larnc
6. Blog – Sales Planning and Forecasting – Multivariant - https://www.dhirubhai.net/posts/gbhopperiii_when-ai-outperformed-financial-analysts-activity-7216445899634266112-_z6T?utm_source=share&utm_medium=member_desktop
7. Blog?—?How to select the best ESG solution for your /Organization?—?https://www.dhirubhai.net/pulse/how-select-right-environmental-social-governance-solution-paul-young-83mzc/
8. Theory of Constraints - https://medium.com/@paulyoung_81567/what-is-theory-of-constraints-and-the-importance-to-overall-profitability-d010c1cc9841
9. Data Strategy - https://medium.com/@paul.young_40784/why-you-need-a-data-strategy-eb8c351fa72e
10. Demand planning - https://mediacenter.ibm.com/media/Demand+Planning+with+IBM+Planning+Analytics/1_lit7w8ei IBM
11. Blog – What is Decision Optimization and How is Decision Optimization benefits Senior Finance Leaders and CFO - https://www.dhirubhai.net/pulse/what-decision-optimization-why-important-cfo-paul-young-nlpvc/

I have worked with clients and business partners to deploy over 300 data and AI solutions across geography and industry. Each of my various deployments had their own unique challenges including:Shift and lift to the cloud, deployments to new customers, license expansion, use case expansion, data connection, and other areas.

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Paul Young CPA CGA has deployed over 300 data and AI solutions across industries and geographies for the past 8 years. Paul is also an ESG SME on the ESG data journey as part of the

[email protected]

Top 8 Challenges facing the CFO (Chief Financial Officer)? https://www.dhirubhai.net/pulse/8-cfo-challenges-how-overcome-them-paul-young

Courses - https://www.dhirubhai.net/posts/paul-young-055632b_activity-7163302861974519809-ryf3?utm_source=share&utm_medium=member_desktop

?Blog - Challenges with Generative AI adoption by Board of Directors and Senior Management Team

https://www.dhirubhai.net/pulse/challenges-generative-ai-adoption-board-directors-senior-paul-young-dhoue/

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Blog – CFO will be challenged by shrinking EBITDA – Gartner - ?Courses - https://www.dhirubhai.net/posts/paul-young-055632b_activity-7163302861974519809-ryf3?utm_source=share&utm_medium=member_desktop

https://www.dhirubhai.net/pulse/cfos-challenged-shrinking-ebitda-margins-according-new-paul-young-krdbc/

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