Beyond Traditional Finance with Anaplan Cloud Financial Planning PlatformAli Kidwai
In this everchanging business environments, organizations need to adapt and act quickly. Making excellent strategy, execution, and planning is the key enabler of rapid and more informed decision making. In the current scenario, the Financial planning and analysis (FP&A) professionals are dealing with the pressure to quickly report financial numbers. They need a solution that streamlines this process and enterprise performance management platforms offer just that. It provides easier access to financial insights to support decisions.
Anaplan’ financial planning platform is one such solution for finance decision-makers. It offers a collaborative, dynamic, and intelligent platform that helps organizations to make more informed decisions, which leads to effective planning.
Anaplan’s cloud-based platform solves problems related to planning, forecasting, and reporting in areas like finance, operations, risk, actuary and more. It is an adaptable and easy to use financial planning platform which enables your planning models that are custom-fit to your needs and business prerequisites.
Significant challenges faced by the Finance Professionals
Presently, with the changing dynamics of the companies, finance professionals had to deal with the following set challenges:
- Digital interference is impacting the industry from different ends, resulting in both risk and opportunities. So, how businesses will derive profitable growth in this environment?
- Poor forecasts are a big challenge for any industry that usually occur when collaborating inside a big organization. Finance teams need accurate forecasts for better budgeting and planning.
- Everyone wants to have real-time results and information. FP&A teams are under severe pressure to deliver analyses to the decision-makers.
In the present scenario, all organizations across the industry are embracing new technologies like Artificial Intelligence and machine learning, and for that, Anaplan offers a perfect planning environment that leverages AI and ML initiatives to support and provide more accurate forecasts to accelerate the process of decision making. Anaplan’s Connected planning approach is linked to market events and operational tactics, resulting in organisational transformation, associating financial plans to corporate objectives.
Anaplan’s Connected Financial Planning platform is driving value to companies of all sizes. With the growing adoption of technologies and their related platforms, the organisational landscape has grown very complex which leads to inefficiencies from collecting data across disparate source systems.
Why Anaplan for Financial Planning?
Enterprise spending on technology is now investing in a cloud-based system in the current scenario. With cloud planning, companies can replace legacy solutions and create new capabilities, as there are numerous financial solutions available in the cloud. The Anaplan cloud platform makes forecasting a dynamic and reliable performance management process. With Anaplan, you can tentatively calculate the performance gaps between targets, forecast, analyze root causes, and enable effective decision making.
Planning, budgeting, and forecasting (PB&F) look entirely different with Anaplan planning software. With its cloud-native approach, you can automate and structure manuals, spreadsheet processes to jot down timely analysis, reports, and reliable plans. Anaplan can deliver fast & flexible modelling and enterprise readiness to your finance department. Here are some highlights of the stand out features that Anaplan’s cloud financial planning and analysis platform offer:
- The Anaplan’s business syntax modelling offers the financial analysts to create, revise, and maintain models without any assistance from the IT support
- Anaplan’s connected planning platform is a modern, secure architecture designed to satisfy the needs of business users and the IT department
- It helps you create timely and reliable forecasts by applying statistical algorithms to both historical data and external datasets
- The platform offers a planning environment that supports AI and ML initiatives for more accurate forecasts
- Anaplan links financial, sales, and operational plans together for ideal financial forecasting across your enterprise
- Anaplan is turning to machine learning to support modern Finance functions
- By augmenting a cloud-based planning approach to financial planning, FP&A teams are equipped to continuously analyze business performance, adapt to fluctuating markets conditions, and foster an innovative business culture
Therefore, we can summarize that with Anaplan businesses will be ahead of the competitive curve and will gain better visibility on the financial performance of the enterprise. In this way, Anaplan presents users with eclectic resources, technology, and builds a collaborative culture across your finance department.