Australia

Details

  • Service: Advisory, Management Consulting, Business Performance Services
  • Type: Business and industry issue
  • Date: 23/09/2010

CFO Insights

CFO Insights
This series provides a perspective into financial management, and assists the finance function to create measurable value for their business.

CFO Insights 1: Accurate forecasting – fact or fiction 

While forecasting is often considered a ‘financial exercise’, leading organisations widely acknowledge that it is at the heart of the performance management process and potentially a significant influence on business value.
CFO Insights 1 cover
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Fact or fiction?


We discuss these five key statements that you may already be familiar with, and if they are in effect, fact or fiction:

 

  • "Forecasts are a waste of time because no one uses them."
  • "Forecasting is a finance - not a business imperative."
  • "I don’t have the knowledge to predict the future."
  • "Rolling forecasts will replace the budgeting process."
  • "Advanced budgeting and forecasting software is not the answer."