Cloud-based planning on the rise

July 10, 2023

The Planning Survey 23 reveals global trends in corporate planning

Companies are increasingly using cloud-based planning. This is confirmed by the recently published The Planning Survey 23 by the analyst firm BARC. In the ninth edition of the annual study, global feedback from more than 1,300 professionals on the selection and use of software for planning, budgeting and forecasting was requested. Besides cloud-based planning solutions, the integration of planning and analysis is a clear trend.

Options for optimisation

According to Christian Fuchs, Senior Analyst at BARC and co-author of the study, The Planning Survey 23 offers valuable insights for companies that want to optimise their planning and forecasting processes. Many companies face challenges in implementing predictive planning, according to the BARC study. “The results of the study highlight the increasing importance of integrating planning with analytics and the growing use of cloud solutions,” says Fuchs. At the same time, it shows that the use of predictive planning still faces challenges.

More use is being made of planning solutions in the cloud, such as the realisation of new implementations. According to the study, this is due to increasing cost pressure, the high-performance processing of large amounts of data and a lack of IT resources in organisations. Cloud-based solutions can usually be put into operation quickly. According to the study, companies with globally distributed users in particular benefit from cloud-based provisioning, as it enables web-based access everywhere.

Planning with analytics

The integration of planning with analytics continues to gain in importance. According to BARC, the market for software solutions is developing from pure planning tools to comprehensive CPM platforms that also include analytics and group consolidation. Many companies still use separate software tools for different performance management processes, which entails effort and risks. An integrated approach is recommended for a seamless connection of operational sub-plans with financial planning and group consolidation.

The use of predictive planning, on the other hand, continues to be challenging, according to BARC. Although software offers in this area are being further expanded, companies are holding back with their application. A high-quality and comprehensive basis of historical data is often lacking, which makes the implementation of predictive planning difficult. In order to exploit the potential of this technology, it is recommended that companies prepare and optimise their data basis accordingly.

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