BUSINESS DRIVERS AND ROLLING FORECAST A QUALITATIVE APPROACH
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Abstract
Fixed annual budgets can be cumbersome and inflexible, which often fails to deliver the intended benefits. The annual budget is often disconnected from business operations and strategic goals. It suffers from inherent weaknesses due to a lack of business intelligence about its assumptions. This flaw is well-documented in the literature. There are many options for better corporate financial planning. Business intelligence is an essential component of the annual budget process. Rolling forecasts are also a crucial tool. Business intelligence-based, driver-based rolling prediction can help align an organization's budget process and strategic objectives. It can also increase the financial and operational strength of an organization and maximize shareholder value. This article will provide a detailed overview of the traditional annual budget process. It will also discuss how an approach based on financial forecasts based on business intelligence drivers can help align operations with strategic goals and add value to organizations. An assessment of intelligence-supported, driver-based rolling forecasting will also be presented, demonstrating an im- proven approach to the traditional annual budgeting process.
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