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Accelerating Business Performance Through Better Forecasting

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Forecasting today is much more than reviewing what was spent last year and making adjustments. Forecasting involves developing a thorough understanding of sales trends, personnel needs, revenue projections and other
operational issues.

The move to rolling forecasts has improved forecasting capabilities to some degree but there is still room for improvement. A recent survey of finance executives by the consulting firm, Kaufman Hall, found that 38% of respondents use rolling forecasts. This leaves a clear majority of finance teams hampered by forecasting processes that may be less agile or responsive to real-time conditions.

Regardless of how the finance department approaches the forecasting process, the goal of forecasting is to narrow the gap between projected and actual business results, which could include revenue, expense, profitability or other measures.

Read on to learn more!

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