The current, technology-driven, turbulent business environment presents many challenges to business managers. One primary challenge is the ability to predict and plan for the future. Changes are constant, and companies struggle to find ways to find and manage resources.
Traditional budgeting is found to be outdated and irrelevant because it is:
- Too time consuming
- Based on assumptions that may not be valid
- Focuses on past events instead of future possibilities
- Creates a “use it” or “lose it” mentality
- Restricts creative thinking in resource management
Rolling forecasts are the wave of the future, rapidly replacing traditional budgeting. In this practical webinar, you will discuss the critical differences and advantages of rolling forecasts over traditional budgeting. You will be challenged to think outside the box and embrace the advantage of rolling forecasts.
What You Will Learn:
- Why rolling forecasts are critical in today’s turbulent and constantly changing environment
- The five core components of rolling forecasts with simple explanations and exercises to reinforce the learning points
- The use of key business drivers and cash to influence and impact the future
- The role and use of technology in rolling forecasts
- How to use “What If” analogies to validate rolling forecasts
- How to focus on future possibilities rather than past events to manage resources
- How to move from data-based budgeting to driver passed forecasting as the foundation for resource allocation and utilization
- A six-step solution to developing and understanding rolling forecasts using attendee excel based examples
- A process to merge rolling forecast planning into an operational budget framework using attendee excel based examples
Upon course completion, you will be able to:
- Utilize key business drivers as the basis for rolling forecasts to cast influence and impact the future
- Identify core components of rolling forecasts and why they are critical in today’s turbulent environment
- Employ excel-based platforms to understand rolling forecasts
- Apply techniques to utilize rolling forecasts
- Validate forecasts using “What If” analogies
- Avoid pitfalls in the rolling forecast process
Program Level: Intermediate
Field of Study: Accounting
Carl Young Consulting
Carl Young is the owner of Carl Young Consulting, and is an author, speaker, trainer, consultant, and coach. He is a former CFO of a $275M, high growth technology-based company, former Senior Financial Associate of a major consulting firm, and former CEO of his own small parts manufacturing company. He has over 25 years of senior level business management, finance, and accounting experience. Mr. Young holds an MBA and has completed graduate studies in Accounting and Taxation.
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