Your corporate financial planning software can make or break your organization’s ability to meet its financial goals, just like a business plan. The ideal financial forecasting tool can help you keep up with any changes in your business’s current situation by allowing you to reinvent your strategies constantly.
With a sales forecast plan, any business can quickly identify areas of weakness in their sales strategy to adjust their strategy in advance. As a result, companies can more easily develop benchmarks and indicators to track their annual targets.
You don’t just do sales planning and forecasting once a year; you do it all the time. To maintain accurate forecasts even as your company expands, it’s critical to have budgeting and forecastinga software that can grow with it.
Here’s how the right FP&A forecasting software can help you revamp your financial needs and how you know it is the right software of choice for your business.
It should make your tasks more efficient
FPA software like Performance Canvas uses automation to help finance teams and managers manage their workflows and distribute tasks more effectively. When you use PCF, you can enter your budget or forecast on the web or in Excel, get an overview of pending charges, tag individuals and users for better accountability, and check the status of the tasks with ease.
Using FP&A software, finance teams can complete routine tasks more quickly, resulting in a significant increase in overall productivity.
It should enhance your reporting capabilities
You need to have access to reliable financial reports to mitigate risk and help your company navigate a more complex business environment.
The advanced reporting capabilities that FP&A software like PCF provides can help your organization become more data-driven. PCF has financial reporting and analysis capabilities that are easy to understand and use. It comes with over 15 ready-to-use report templates for P&L, balance sheets, cash flow, CAPEX, and many other types of financial reporting. It not only automates the generation of these financial reports, you can also easily create detailed departmental reports in the web or in Excel.
It should help you establish and achieve business objectives
Setting goals is an essential part of achieving your dreams. As a result of goals, your teams are more likely to be held accountable, remain motivated, and know how to evaluate their progress. Goals and forecasts can be set up in FP&A software like PCF, allowing users to check-in and track their progress.
It should help you measure and analyze business performance
It’s easier to gauge your progress against last year’s results or industry norms when using financial planning and analysis (FP&A) software. You can conduct market research and compare your numbers to those of your competitors to stay on top. You can efficiently perform a SWOT analysis with the right financial forecasting software to better understand your company’s strengths, weaknesses, opportunities, and threats.
It should help you identify and make the most of your competitive advantage
Knowing your company’s competitive advantage is critical to its success. It also aids you in bucking industry trends and charting your course. Knowing where your strengths lie can help you concentrate your efforts on the things that matter most and are most responsible for your success. You must have access to accurate data and reports about your company’s current state to do this. Financial planning, budgeting, forecasting, and reporting can only be accomplished with a consolidated FP&A software that has integrated capabilities. PCF offers businesses the ability to see their top 10 most performing products in the market and the bottom performing ones to allow you to adjust your strategies in time.
It should allow you to clearly define benchmarks and metrics
It is essential to establish clear benchmarks and metrics that allow you to compare your business to the best in your industry for comparison purposes. Building metrics that help your organization reach its goals will be more accessible if benchmarks are established early on. Set more realistic goals for your organization with the help of quotas.
You can use PCF´s customizable dashboard to get a visual presentation of critical metrics for your role or the entire business. The dashboard within PCF makes it easy to keep track these key figures.
Why Companies Opt for Performance Canvas for Corporate Financial Planning
You don’t have to completely rework your financial planning process to reinvent your FP&A approach. With the help of an integrated performance solution, you can fine-tune these areas to meet the needs of your growing business.
PCF seamlessly integrates with your ERP and line-of-business systems of systems. It also allows you to customize your Chart of Accounts so that it matches your way of reporting and planning.
Your financial process can be modernized regardless of the complexity of your business environment.
Get a free demo of how PCF can transform your business by contacting our team today.
