Future Of Forecasting and Budgeting with Rolling Forecast

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 unexpectedly unpredictable future. Changes are constant. Companies struggle to find ways to manage resources and find ways to thrive and survive in this turbulent business environment.

Traditional budgeting has been overtaken by these constantly changing events as is currently outdated and irrelevant for the following reasons:

• Too time consuming
• Based on assumptions that may not be valid
• Focuses on past events, not future possibilities
• Creates a “use it” or “lose it” mentality
• Restricts creative thinking in resource management

Rolling forecasts are the wave of the future. They are rapidly replacing traditional budgeting. This webinar outlines the critical differences and advantages of rolling forecasts over traditional budgeting.  It challenges finance personnel to think outside the box and embrace the advantage of rolling forecasts.

The future of forecasting lies in rolling forecasts, a dynamic approach that updates continuously, offering real-time insights and agility. Unlike static budgets, it helps businesses adapt to changing conditions, align financial plans with goals, and seize opportunities using advanced tools and data-driven decision-making.

• 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?

• Using key business drivers and cast to influence and impact the future
• Why rolling forecasts are critical in today’s turbulent environment?
• Definition of key business drivers as the basis for rolling forecasts
• Rolling Forecasts meaning and concept
• Six-step Excel platform to convert to Rolling Forecasts
• Two-step Excel platform to migrate forecasts to the budget system
• The relevance of cash as a key business driver
• The core components of rolling forecasts
• The use of technology
• Simple techniques to make it happen.  From dashboards to driver-based forecasts
• Simple samples and exercises to reinforce teaching points
• Using “What If” analogies to validate forecasts
• Benefits of rolling forecasts
• Pitfalls to prevent
• Selling the culture changes to make rolling forecasts acceptable

The future of forecasting and budgeting is increasingly shifting toward rolling forecasts, a dynamic approach that allows organizations to adapt to ever-changing market conditions. Unlike traditional static budgets, rolling forecasts provide continuous updates by extending the forecast period with each new cycle, offering real-time insights and enhanced agility. This method empowers businesses to align financial planning with strategic objectives, respond proactively to challenges, and seize emerging opportunities. By leveraging advanced tools and predictive analytics, rolling forecasts enable data-driven decision-making, ensuring a more resilient and forward-looking approach to financial management.