Modern planning technology works to improve efficiency, productivity, speed, and competitiveness for companies of all sizes and across all industries. It’s a worthwhile investment, to be sure, but once the shine wears off and priorities shift, CFOs might see a decrease in their return on investment (ROI). That is, unless they plan ahead and continue to adapt the technology to meet their most pressing needs.
If the Office of the CFO has any incentive to maximize the ROI on a project, it’s when the project is owned by Finance and Accounting. Financial planning technology solutions are a prime example. It’s clear to finance and accounting that more speed, intuitiveness, and accuracy are immense benefits. The decreases in errors and frustration are well worth the investment, too. But, for those just considering an investment in financial planning technology, it pays to have your justification in line, target processes in sight, and strategic goals in place before you get started.
This guide provides examples and success stories to help you understand how to maximize the value of financial planning technology before you invest. It provides tips for accelerating adoption and ensuring the benefits extend across the Office of the CFO and out to the rest of the business. It also shows how you can match your goals with the right financial planning technology solution, and gives some real examples of how other companies are maximizing their ROI on planning technology.
Nearly every organization relies on its financial planning processes to gauge performance and plot a course forward. Also for nearly every organization, that is a slow, manual, frustrating, spreadsheet-driven process. With a lingering pandemic and ongoing supply chain disruptions and workforce shortages, not to mention talk of a recession, there are few reasons why you shouldn’t be investing in financial planning technology right now.
It takes just weeks to deploy planning technology and the benefits come just as quickly. Waiting brings more frustration, more redundancy, more unhappy people on your finance and accounting teams, and more bad decisions from out of date, inaccurate plans.
Our new guide goes into more detail about why now is the best time to invest in financial planning technology, offers a case study on the speed of deployment, and provides guidance on the decisions you need to make before choosing a solution.
It’s clear that those who invest in digital technology outpace rivals who don’t. But what further separates leaders from the rest is planning. It’s like planning2, where you’re planning to maximize the ROI of your planning technology.
The key is in setting clear goals, aligning the technology with those goals, and focusing on quick wins. It’s good to have a focused effort and take advantage of existing technology investments. Measuring progress is also helpful in showing momentum and building ongoing support. It’s also important that the business sees and experiences the benefits as well, such as in collaboration, speed, self-service analysis and reporting, and more.
Our guide for Maximizing the ROI of Planning Technology also provides feedback from top analysts showing what puts leaders out in front and why Planful customers hit ROIs close to 400%.
The best place to start is right where you are today. Waiting just puts you further behind. It’s critical to understand where you want to be with your financial planning capabilities and speed, but it’s even more important to know where to invest to get there.
Dive into our new guide to discover a simple framework for gauging your organization’s financial planning maturity. In just a few minutes, you can determine where to begin and your best path forward.
Maximizing the ROI of planning technology isn’t just about the dollars; it’s about giving the Office of the CFO more confidence, more insights, and more time to improve business performance by using those insights to raise the financial IQ of the entire organization. So what are you waiting for?
Check out our guide for Maximizing the ROI of Planning Technology today.