Written by Heather L. Cole, September 8th, 2023
In today's fast-paced business landscape, midmarket companies face unique challenges when it comes to budgeting, forecasting, and planning (FP&A). Many of these organizations heavily rely on Microsoft Excel for their financial processes, a tool known for its flexibility and ease of use. However, this love affair with Excel often turns sour as businesses grow and evolve. The result? FP&A professionals find themselves trapped in a never-ending cycle of data chasing and error checking, leaving little time for strategic thinking and analysis.
So, what's the solution for midmarket companies looking to break free from the shackles of Excel and embrace advanced technology and AI for their FP&A processes? The answer lies in IBM Planning Analytics, a powerful tool that's more accessible than you might think.
Excel's Love-Hate Relationship
Excel is the backbone of many midmarket FP&A processes due to its simplicity and familiarity. It's a tool that can handle the uniqueness of each organization's financial data and calculations. However, as businesses grow and change, Excel's limitations become painfully evident. The time and effort spent on manual data entry, formula checks, and error corrections can be overwhelming.
Midmarket companies need a solution that retains Excel's flexibility while adding scalability and advanced forecasting capabilities. Enter IBM Planning Analytics, a game-changer for finance teams looking to adapt and thrive in today's competitive marketplace.
The IBM Planning Analytics Advantage
IBM Planning Analytics offers the best of both worlds: the familiarity of Excel and the power of advanced technology. It empowers finance teams to create dynamic and robust models that can adapt to the ever-changing business environment. The key to rapid success with IBM Planning Analytics is not relying on pre-built templates but engaging with knowledgeable consultants who understand both the technology and FP&A processes.
At Lodestar Solutions, we firmly believe in the proverb "teaching a man to fish." Our approach is to coach your team in using the technology effectively, ensuring that you become self-sufficient in leveraging IBM Planning Analytics. This means no more dependence on cookie-cutter solutions or struggling to fit your unique business needs into rigid templates.
Join Us for the Webinar: The Pain of Outgrowing Excel
Still skeptical about making the switch from Excel to IBM Planning Analytics? We invite you to join us on October 19th for our webinar, "The Pain of Outgrowing Excel: Midmarket CFOs Discover Relief with IBM Planning Analytics." In this informative session, we'll delve deeper into the challenges midmarket companies face with Excel, explore how IBM Planning Analytics can revolutionize your FP&A processes, and showcase real-world success stories of organizations that have made the transition.
The Pain of Outgrowing Excel: Midmarket CFOs Discover Relief with IBM Planning Analytics
Date: Thursday, October 19th, 2023
Time: 1:00 – 2:30 PM Eastern
Why Should You Attend?
- Uncover the Hidden Costs of Excel: We'll shed light on the often underestimated costs associated with Excel, including the time, resources, and missed opportunities that could be better invested elsewhere.
- Discover the Power of IBM Planning Analytics: Learn how IBM Planning Analytics can transform your FP&A processes, reduce errors, enhance collaboration, and provide actionable insights for strategic decision-making.
- Realize that IBM Planning Analytics Is for You: Contrary to popular belief, IBM Planning Analytics can be deployed for as few as 10 users, making it accessible and cost-effective for midmarket companies.
- Embrace Flexibility and Scalability: Understand how IBM Planning Analytics offers the flexibility you love about Excel while adding scalability and advanced forecasting capabilities.
It's time for midmarket companies to break free from the constraints of Excel and embrace the future of FP&A with IBM Planning Analytics. Don't settle for one-size-fits-all solutions; your business is unique, and your financial planning tools should reflect that. Join us on October 19th to explore how you can regain control, reduce the pain of Excel, and unlock efficiency and innovation. It's a decision that can revolutionize your finance department and propel your organization toward success in the modern business landscape.
Check out another one of Lodestar's most recent blogs: Escaping the Budgeting Blues: Rolling Forecasts with IBM Planning Analytics.