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Finit solutions - The Benefits of a Rolling Forecast

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Finit solutions - The Benefits of a Rolling Forecast

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In today's highly competitive economic environment, successful companies must rapidly adapt to fluctuations in operational and economic strategies. Having a rolling forecast allows companies to:


Anticipate change and promptly respond to immediate needs
Proactively address long term financial consequences to the business that are not realized through traditional annual forecasting and planning methods.
Extend forecasting cycles further out
Standardize the forecast process
Create forecasts rapidly
Emphasize key drivers


Join Bryan Hogan and Justin Cooper both from Finit's Hyperion Planning team as they discuss the functional benefits of Rolling Forecasts:



What are the key areas of focus for a Rolling Forecast?
How can a Rolling Forecast benefit my company, my division, my Cost Center?
Will a Rolling Forecast create more work for my analysts? Or will it actually reduce work over time?
Why are many companies using rolling forecasts now? And....
How to implement a Rolling Forecast in Hyperion Planning "out of the box" or by utilizing a more customized solution.


Presenter: Bryan Hogan & Justin Cooper

In today's highly competitive economic environment, successful companies must rapidly adapt to fluctuations in operational and economic strategies. Having a rolling forecast allows companies to:


Anticipate change and promptly respond to immediate needs
Proactively address long term financial consequences to the business that are not realized through traditional annual forecasting and planning methods.
Extend forecasting cycles further out
Standardize the forecast process
Create forecasts rapidly
Emphasize key drivers


Join Bryan Hogan and Justin Cooper both from Finit's Hyperion Planning team as they discuss the functional benefits of Rolling Forecasts:



What are the key areas of focus for a Rolling Forecast?
How can a Rolling Forecast benefit my company, my division, my Cost Center?
Will a Rolling Forecast create more work for my analysts? Or will it actually reduce work over time?
Why are many companies using rolling forecasts now? And....
How to implement a Rolling Forecast in Hyperion Planning "out of the box" or by utilizing a more customized solution.


Presenter: Bryan Hogan & Justin Cooper

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Finit solutions - The Benefits of a Rolling Forecast

  1. 1. Rolling Forecast January 29, 2016 Bryan Hogan Justin Cooper ©2016
  2. 2. ©2016 Finit EPM Services Page 2 Full Cycle Implementations Upgrades Dedicated Support
  3. 3. ©2016 Why is Finit here? Page 3 Finit takes pride in being a company of makers and Doers; people who dig in and get their hands dirty We make and deliver personalized financial reporting solutions and experiences …Not Company to Company, but Person to Person By listening, questioning, and analyzing
  4. 4. ©2016 The Finit Family Page 4 Fully aligned with our clients, not just bottom line $ No debt or external ownership Work with Finit employees, no subcontractors Compensation based on CLIENT SATISFACTION PRIVATELY OWNED CLIENT SATSIFACTION NO SUBCONTRACTORS DEBT FREE
  5. 5. ©2016 Finit Values Page 5 Our values on which we ask you to provide consultant feedback: • Approach & Collaboration • Integrity & Honesty • Client Betterment • Self Betterment • Colleague Betterment • Finit Betterment • Work Effectiveness • Impact & Innovation • Proactiveness & Passion Service Solutions Betterment
  6. 6. ©2016 Finit Customer Success Page 6 Our values, culture, and approach to becoming a trusted advisor to our customers has led to 100% customer success for every Finit client (250+) and for every Oracle Hyperion project (500+)
  7. 7. ©2016 Some Finit Customers
  8. 8. ©2016 Questions
  9. 9. ©2016 Upcoming Webinars Page 9 February 12th - Driver Based Forecasting - Carla Cwiertnia February 19th - HFM Classic vs Calc Manager – Chris Barbieri / Scott Sawers February 26th - Intro to Planning Part II - Cindy Eichner
  10. 10. ©2016 About the Presenters Page 10 Justin Cooper (jcooper@finitsolutions.com) Certification/Education Bachelor of Science in Computer Information Systems Experience 8 years with Essbase 8 years with Hyperion Planning 9 years with Financial Reports 2 years with HFM 2 years with FDM Client Testimonial Justin is doing a great job on our project. Justin has made great suggestions and works on his own when needed to complete a task. He has taken the time to show me exactly how some of his calc scripts work (as requested) and has made me feel comfortable that once Finit rolls off we will be able to maintain and troubleshoot our Planning tool.
  11. 11. ©2016 About the Presenters Page 11 Bryan Hogan (bhogan@finitsolutions.com) Experience 8 years with Essbase 4 years with Planning 3 years with Enterprise 21 years with financial systems, reporting, and dashboards Certification/Education BBA- Finance & Banking, University of North Texas Client Testimonial Finit has a remarkable reputation and no matter who you meet from the company, you can understand where the comments come from. Each of them is knowledgeable in so many aspects and takes the time to make sure the client fully understands the topic. They exceed the bar of professionalism while maintaining an enjoyable atmosphere.
  12. 12. ©2016 Rolling Forecast - Agenda Page 12 • What is a Rolling Forecast? • Traditional vs. Rolling Forecasts • Rolling Forecasts in Hyperion Planning • “Out of the box” Solution • Customized Solution • Summary/Questions
  13. 13. What is a Rolling Forecast?
  14. 14. ©2016 What is a Rolling Forecast • More fluid approach to the planning process • Creates a cycle of continuous planning • Avoids the year-end “wall” • Not bound to targets or predetermined expectations • Drives more strategic decisions versus tactical decisions made to “hit a number” Page 14
  15. 15. ©2016 Key Components of a Rolling Forecast • Focus on key drivers versus a detailed list of assumptions • Update key drivers on a regular and predetermined basis • Incorporate the latest known impacts on the business • Utilize what-if scenarios to evaluate catastrophic events • Risk and Opportunities schedules are important to evaluate a range of impacts to the what-if scenarios Page 15
  16. 16. Traditional vs. Rolling Forecast
  17. 17. ©2016 Traditional vs. Rolling Forecast Page 17 • Both types of forecast have the same amount of actual data for trending and other analysis • The traditional forecasts hit the year end wall in December while the Rolling Forecasts push into the following fiscal year and beyond J F M A M J J A S O N D J F M A M J J A S O N D Traditional Q1 (P3+9) Forecast Traditional Q3 (P9+3) Forecast Rolling Q1 Forecast (12 mth) Rolling Q3 Forecast (12 mth) Current Year Current Year +1 Year End Wall
  18. 18. ©2016 Traditional vs. Rolling Forecast Page 18 Traditional Planning Process Rolling Forecast Process Year-end Wall Always a fixed number of months into the future Budgets are “fixed”; forecasts are adjusted snapshots of budget Updated continuously Time intensive to update; budget is annual “event” Takes only days to develop each forecast Typically planning is at a lower level Key drivers only Negotiated targets Flexible what-if and R&O focused outcomes
  19. 19. ©2016 Rolling Forecast Questions • Will a rolling forecast add more work to the finance teams to develop and maintain another set of numbers? • Would a rolling forecast process replace: • Monthly financial reporting and variance analysis? • Current monthly/quarterly forecasts? • The annual budget process? • The LRP/Strategic planning process? • What is the best way to manage all of the versions and any integration points with other forecasts within an organization? Page 19
  20. 20. Rolling Forecasts in Hyperion Planning “Out of the Box” & “Customized” solution
  21. 21. ©2016 Rolling Forecast in Planning Page 21 • Main object used to enable Rolling Forecast are substitution variables • Global placeholder for information that changes regularly
  22. 22. ©2016 Rolling Forecast – “Out of the box” Page 22 • Substitution variables are auto-generated via the Planning web.
  23. 23. ©2016 Hyperion Planning “Out of the Box” Page 23
  24. 24. ©2016 Hyperion Planning - Customized Page 24
  25. 25. Key Business Drivers - Example Page
  26. 26. ©2016 Key Business Drivers - Example Page 26 • Rolling forecast monthly meeting agenda: • Discuss impacts of new actual data to previous forecast trends • Assess any new risks and opportunities to key drivers • Provide estimates and assign or update probability to R&O as necessary • Update the rolling forecast model as appropriate
  27. 27. ©2016 Key Business Drivers - Example Page 27
  28. 28. ©2016 Benefits of Implementing Rolling Forecasts in Hyperion Planning • Centralized system/application • Spreadsheets not book of record • Version control • Standardization • Data integration • Security • Reporting Page 28
  29. 29. Summary
  30. 30. ©2016 Summary Page 30 • Provides a more dynamic view of the business • Identifies alternative actions more quickly as: • Are more flexible • Are proactive versus reactive • Focus on key business drivers and strategic decisions • Take less time to update • Are more effective and easier to manage by utilizing a systemic planning solution to assist with: • Standardization • Version control • Simplified dissemination of information
  31. 31. Questions and Answers
  32. 32. Thank you for attending! Questions? Email us for a copy of the slides or link to the recording insights@finitsolutions.com Past webinars: www.finitsolutions.com/webinars Presenters: Bryan Hogan bhogan@finitsolutions.com Justin Cooper jcooper@finitsolutions.com General Questions: Greg Barrett gbarrett@finitsolutions.com Joe Mizerk jmizerk@finitsolutions.com
  33. 33. ©2016 Upcoming Webinars February 12th - Driver Based Forecasting - Carla Cwiertnia February 19th - HFM Classic vs Calc Manager – Chris Barbieri / Scott Sawers February 26th - Intro to Planning Part II - Cindy Eichner

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