“With the current recession there has never been a more urgent time to implement a quarterly rolling forecasting process.”
Re-forecasting the year-end position every month is flawed on a number of counts, it never looks further than year-end, each month the forecast changes creating number noise, the opportunity to set realistic reporting targets for the on-coming quarter is not taken up, the forecast model frequently is based in ‘error prone’ Excel, and seldom do budget holders ‘buy into’ the forecast as they were not involved in the numbers.
Quarterly rolling forecasting (QRF), typically going out 18 months at a time, can be a quick process. Less than 5 working days if it follows the ‘fast, light touch’ process developed from “winning finance” teams from around the world. This course will show you “how to implement quarterly rolling forecasting – and get it right first time”. In addition the course will show how QRF evolves into quarterly rolling planning (QRP), a process that will revolutionise any organisation whether in the public or private sector!
It is being increasingly recognised that a planning tool is required for a forecasting and planning process. The stalwart Excel has now been extended beyond it intended boundaries with management accountants building monsters that are beyond any quality assurance programme, littered with logic errors hidden in the formula and designed without the big picture view. This course will also cover how to replace Excel with a planning tool and getting it right first time.
Do not miss out, book early.
Content
- The ten foundation stones for a better practice forecasting process
- The features of a ‘fast light touch’ quarterly rolling forecast process
- Why you need to migrate from Excel to a forecasting tool
- How a forecast should be built in a planning tool (three case studies)
- Templates to report the forecast in a clear and concise way
- How to sell the change to management
- How the process will bring about a quick annual plan – in two weeks
- An implementation roadmap
Outcomes and deliverables
Upon attending you will be able to:
- Explain the common pitfalls in forecasting
- Recall the foundation stones to a quarterly rolling forecasting process
- Use the checklists and templates designed to help you with your implementation
- Explain to your management why your organisation should implement quarterly rolling forecasting
- Review, at your leisure, all workshop content in the comprehensive accompanying paper which is valued at over €120
Target Audience:
- Finance Directors, CFOs or financial controllers who are involved in annual planning process
- Financial accountants and management accountants performing forecasts
Corporate service managers who have the accounting team reporting to them.
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