Collaborative enterprise planning (CEP) aligns and links strategic, financial and operational plans to achieve better business outcomes. It has evolved over the years as the role of finance has grown in facilitating the coordination of plans across the company in order to build ‘one version of the truth’ that supports operations.
This form of planning uses technology to rapidly assemble, analyze and report plans and budgets, as well as compare results to plans. Business units can plan and review what matters to executives and managers – headcount, units produced and occupancy rates, for example – in parallel with essential fiscal concerns such as revenue, expenses and cash flow.
Ventana Research recently conducted Next-Generation Business Planning benchmark research that found that companies that directly link their plans get better results than those that don’t – with 66% of businesses where information is directly linked reporting that their planning processes work well or very well.
To take a deeper dive into the Ventana Research data, download the full report, Collaborative Enterprise Planning: Improving the Business Value of Planning and Budgeting across the Enterprise.