Strategic Planning is all about the long-term. It is the process by which the organisation turns its strategic objectives into a high-level plan, applies what-if analysis to it, evaluates options such as acquisitions, disposals and major investment projects.
The results of the Strategic Planning process typically form the basis of the target against which a more detailed bottom-up Budget and, subsequently, a regularly updated Forecast, are prepared.
It is important to use the right tool for the right job. Whilst Hyperion Planning could, in theory, be used to build a Strategic Planning solution, it is better suited to the bottom-up preparation of budgets and forecasts from a disparate community across the organisation, rather than supporting highly focused what-if analysis by a dedicated team often co-located at group HQ.
Fortunately, Hyperion recognised this years ago and acquired and integrated a product that is perfectly suited to the job. It got our MD very excited about it back then (unusual, allegedly, because he's normally quite cynical - he would say realistic) - and nothing has changed. We still recommend that if you are serious about Strategic Planning, you need to use Hyperion Strategic Planning. The good news is that implementation of this tool, compared with some of the others, is quick and relatively cheap and painless.
If it sounds like we're speaking your language, Please contact Nigel Dahl through LinkedIn using the button below, or call him now on +44 (0)7799 664165.
Managing Director of epmgurus, brings 30 years of diverse experience to bear in helping organisations and teams through change – of size, structure, systems, management or ownership.
Nigel has run, advised, supported or worked with Finance functions from one-person operations up to globally dispersed Finance departments of several thousand people. He knows what good (and bad!) looks like.
Enterprise Performance Management (EPM) is a broad term covering any business process that seeks to improve performance through a continuous loop of data collection, reporting, analysis and, most importantly, informed and targeted action.
In practice, Finance EPM is generally considered to cover at least Strategic, Financial and Operational Planning, Budgeting and Forecasting, Management Reporting (MI), Financial Consolidation, Statutory Reporting, Profitability and Cost Management, including Cost Allocation.