Long-range planning, as a strategic roadmap for organizational growth, aids in prioritizing strategic efforts like as mergers and acquisitions, new product investments, factory optimization, and capital sourcing –all of which are critical to meeting financial objectives.
How can finance and accounting teams make the most of the long-term planning process? Effective planning procedures, like most corporate finance activities, cannot be limited to financial considerations. They must deliver value to line-of-business leaders by aligning finance and operations. Here are a few key actions to think about for long-term planning:
- Target setting
- SWOT analysis
- Strategic initiatives and business-case analysis
- Capital planning & prioritization
- P&L, balance sheet, and cash-flow modeling
Unfortunately, many businesses still use Excel to manage their long-term planning. Corporate Financial Planning and Analysis teams spend hours generating, disseminating, and rolling up templates.
To collect, evaluate, and analyze precise operational assumptions and integrated business plans, Excel and point solutions are commonly utilized. This dependency frequently leads in a jumbled mix of extra data and offline files, each of which contains sophisticated computations and interconnected schedules with limited traceability to financial goals.
A Modern Long-Range Planning Platform
OneStream helps line-of-business and corporate finance teams manage long-range planning with the agility and scalability they need to align the enterprise. With built-in predictive forecasting, reporting, and analytics capabilities, OneStream’s unified platform streamlines planning and reporting while increasing alignment between finance and operations –all while allowing for multiple scenario planning and sensitivity studies. The Long-Range Planning solution from OneStream offers the following features and more:
- Predictive analytics
- Extensible Dimensionality
- Built-in Reporting and Analytics
OneStream also offers a unique chance to connect long-term plans with all other key finance operations as a consolidated solution for financial closing, reporting, budgeting, planning, and forecasting. Here are a few more advantages of matching long-term strategies with current performance and budgets:
- Streamline planning and analysis
- Focus on strategic cash needs
- Scale across the organization