![]() ![]() The affected part of the business may then need to develop and apply new budgets and review risk strategies, capital allocations and financing. The new plan does not have to affect the whole company it could be used by a subsidiary or department, for example. They can follow the development of events in the same way and inform the management continuously, even after a new plan has been activated. A clear dashboard can enable and facilitate communication.” Earmark risk levels in financial scenariosĪccording to McKinsey, CFOs and Financial Managers can and should earmark risk levels in order to know whether a contingency plan is needed for that particular scenario and, if so, when it should be implemented. Communication is an important part of the process since it gives everyone involved in the forecasting work the same starting point and the same frame of reference. PWC emphasises that “you must have accurate and up-to-date factors in your model in order to be able to accurately estimate and communicate the expected effects on your business. The modelling must be able to demonstrate the effects of fixed, variable and fluctuating costs as well as problems with sales and production." Working with Rolling Forecasts (such as rolling 12-month forecasts) and/or working with Alternative Financial Scenarios can make it easier for you to act quickly when faced with unforeseen events.Īccording to Hypergene’s partner PWC, the right forecasting tool “must be sufficiently flexible to be able to deal with recession scenarios. However, there is a risk that the budgeting process may not agile enough if important preconditions change. In normal times, budgeting process is a consensus process based on a common view of the future that guides a company’s investments and revenues. This can be done at a strategic or purely financial level, and can have a significant impact on budgeting and forecasting work. Scenario Planning is an analytical tool and process that makes it possible to examine and evaluate possible future events or scenarios, and to predict possible outcomes. Hypergene Signs Partner Agreement with Lundatech.Banqsoft Chooses Hypergene for Budget and Forecast.Romerike Avfallsforedling IKS Chooses Hypergene for its Planning and Performance Management.Stockholm City Chooses Hypergene for Budgeting and Forecasting.Urban Bucht Appointed as New CEO of Hypergene.The Swedish Defence University Chooses a Complete Solution from Hypergene.Swedish Red Cross Chooses Hypergene for Risk and Internal Control.Hypergene Acquires the German SaaS Company Proventis GmbH.Hypergene and Crayon Norway Enter into Collaboration on Universities and Colleges.Hypergene Announces Strategic Partnership with Deltek in the Nordic Region.Norwegian Lofotkraft Streamlines and Develops its Planning and Follow-up with Hypergene.The School of Architecture and Design in Oslo is Developing its Performance Management with Hypergene.Semcon Works More Efficiently with the Help of Hypergene.PwC Sweden Enters into a Collaboration on Risk Analysis with Hypergene.Mio Streamlines its Financial Planning and Follow-up with Hypergene.The IT Security Company Outpost24 Chooses Hypergenes' Cloud Solution for Planning and Follow-up.Hypergene Concludes Important Agreement in Norway.From Good to Great: xP&A Best Practices from the Best Run PSOs.Business Planning in Project-Based Businesses.Agile Business Planning in Professional Services Firms.BI and Performance Management for Universities.Reporting Tools: Maximise Insights through Proper Usage.Do You Want to Improve Your Business Plan?.Business Model - What it is and How You Create One.What is a Budget and What is Budgeting?.Financial Scenario Planning and the Budgeting Process.A Comprehensive Solution or "Best-of-Breed" Software?.Five Questions on Decision Support for Higher Education Institutions.How is the Controller Function Affected by Digitalisation?.Five Steps to Better Decisions and More Flexible Management.What is Corporate Performance Management?.Operational Planning and What a Tool Can Do. ![]() Quality Management and Quality Management Systems.Business Control - What Does a Business Controller Do?. ![]()
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