An eye on the future
A KPMG and ACCA Thought Leadership Report
Planning, Budgeting
and Forecasting
CONTENTS
About the research 4
Introduction 6
Executive summary 7
Create the right organisational
culture and ways of working 8
Integrate the PBF process,
leveraging high quality data 12
Deploy effective and scalable
technology solutions 16
About the authors 222AN EYE ON THE FUTURE |3
ABOUT THE RESEARCH
This global report is the frst of three pieces of research that have been jointly
commissioned by ACCA and KPMG to assess how the Enterprise Performance
Management (EPM)* capability within Finance is providing the CFO with the
appropriate people, processes and technology to support Planning, Budgeting
and Forecasting.
The data used in the report is from a survey which was conducted between 17th April
2015 and 11th May 2015, and represents the view of over 900 Finance professionals
from more than 50 countries. Whilst employees from organisations of all sizes
participated in the survey, over 60 percent were from organisations with over 1,000
employees with annual turnover of at least $100m.
In addition, 30 percent of the respondents identifed themselves as a Senior Finance
Manager/Manager, 20 percent as newly qualifed/experienced Accountant, 11 percent
as Financial Controller, 7 percent as Director/Partner, 6 percent as CFO and the
remaining 26 percent spread between a range of roles that included CEO, Internal
Audit, Treasury Analyst and Consultant.
THIS REPORT REPRESENTS THE VIEW
OF OVER 900 FINANCE PROFESSIONALS
FROM MORE THAN 50 COUNTRIES
*EPM consists of Planning, Budgeting & Forecasting,Performance Reporting and Dimensional Proftability
| AN EYE ON THE FUTUREAN EYE ON THE FUTURE |45
EXECUTIVE SUMMARY
Planning, Budgeting and Forecasting (PBF)
should serve to support the business in
understanding how its on-going activities
contribute to delivering its future longer term
strategy. It is a method for allocating scarce
resources in-line with the strategic intent of
the business and for planning actions to help
it meet its strategic goals in response to
changing circumstances.
Yet in the face of an increasingly challenging
business environment, this study suggests
current PBF process are fawed, and many
enterprises continue to invest signifcant time in
sub-optimal performance management processes
which do not meet the strategic or operational
needs of the business.
This study suggests there are three critical areas
to focus on to improve the current PBF process
and better align to a leading practice performance
management framework:
INTRODUCTION
Our view is that Planning, Budgeting and Forecasting (PBF) sits within a performance management framework
consisting of three components (the other two being Performance Reporting
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