Significantly improve the accuracy and efficiency of forecasting efforts, leading to better-informed business decisions.
Parallel work on several plans
Reconciliation of source data
Coherent planning with accurate and up-to-date data
Problem
There are three main problems companies face when it comes to forecasting and annual operational planning (AOP). The first one is a lack of accurate data. If this problem remains unattended, it can lead to incorrect assumptions and projections, resulting in unrealistic plans and goals. Another issue is a lack of collaboration and communication among departments and teams, which can lead to a disjointed planning process and conflicting priorities. And the third main challenge is a lack of resources or time to devote to the planning process, a lack of flexibility to adapt to changing circumstances, and a lack of buy-in or commitment from stakeholders. Much like many other companies, a client of ours was in need of a more accurate and efficient method for forecasting units and sales for different products. The existing process was time-consuming and resulted in less accurate forecasts, which impacted their ability to make informed business decisions.
Solution
All the problems mentioned above are things that Anaplan tackles with ease when you know how to do it, of course. To address our client’s issue, our Anaplan experts at B EYE implemented a new forecasting model for use by FP&A users at both the country and regional levels. This model allows users to input data on a country and product group level, which is then allocated down to a detailed product level. It also enables parallel work on the annual operating plan (AOP) and forecast (FCST) at the country and account levels for key products, streamlining the planning process. Other features of the model include various charts and key performance indicators (KPIs) for data visualization, validation steps to lock input and indicate finalized data, data review and allocation, reconciliation of source data, and exports for use in other planning and reporting systems.
This use case combines a series of models, each of which is focused on either a different region or a different division in the client’s company. The information generated and calculated in these models is used as a building block for the work of other Anaplan models, all part of an Integrated Business Planning Solution. It is used across the whole company for sales quotas, rebates, sales incentives, and many others.
Success
The implementation of the forecasting model has been a success for our client. It has significantly improved the accuracy and efficiency of their forecasting efforts, leading to better-informed business decisions. The ability to compare different forecast scenarios and utilize various charts and KPIs has provided valuable insights and data visualization. The streamlined planning process and inclusion of validation steps have also contributed to the overall success of the model. Utilizing the power of Connected Planning and integrating several models together, we allowed for more coherent planning with accurate and up-to-date data.
