Modern businesses require the development of strategies and plans, budget planning, operational analysis, and streamlining at every organizational level—from human resources management to marketing, manufacturing, and distribution. Top management and regional department heads face the challenge of overcoming uncertainty, operational risks, and optimizing resource allocation across all levels of enterprise management.

Planning and forecasting methodologies are used to provide the necessary information for top management. One of the most advanced planning methodologies is budgeting, which serves as a tool for timely and coordinated operational and business management.

Budgeting is an information exchange process. As such, the success of budgets and their execution depends on the quality of information and the organizational structure of the planning system.

Today, many enterprises face challenges in business planning, reporting, and performance monitoring because processes like budgeting and financial reporting heavily rely on human input and are based on uncoordinated data. Crucial information about a company’s operations and financials is often scattered across various applications and databases, unstructured, and stored in employees’ email accounts and local files.

Financial data can be difficult to verify, and their consistency is often questionable due to a lack of oversight. As a result, business planning becomes ineffective and unreliable, and financial reporting is hindered because data is spread across multiple departments, systems, and even countries. This often means top management is unaware of operational issues until it is too late to address them.

SAP BusinessObjects Planning and Consolidation help streamline financial planning and align it with operational planning. This solution ensures that a company has all the necessary resources to execute plans and achieve its goals.

It provides tools for detailed business analysis based on a consistent business vision and understanding, supporting the financial department’s tasks and offering decision support at the company level. The solution is built on best-in-class end-user software, providing convenient and secure access to reliable financial information. It helps to understand profit generation mechanisms and delivers detailed performance indicators to assess the impact of decisions.

Thus, SAP BusinessObjects Planning and Consolidation can play a leading role in automating business processes and improving the efficiency of planning, budgeting, forecasting, and consolidated reporting. Implementing this advanced solution facilitates effective collaboration among all participants in operational and financial planning, helping to target enterprise goals.