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A survey of major companies in multiple sectors across Europe has revealed that driver-based planning and rolling forecasting are fast gaining prominence in boardrooms as enterprises look to maximise returns and competitiveness.

CFOs and other senior executives at more than 30 companies including Shell, Citi, Universal Music and Lufthansa responded to the survey by business intelligence and corporate performance management software vendor prevero.

Their responses reveal that most top-tier enterprises now regard Web-deployable budgeting automation as indispensable. Rapidly displacing spreadsheet templates as a way of gathering performance metrics, automation saves management time, improves the quality of information and enables more effective financial control.

Asked specifically about their use of driver-based planning and rolling forecasting, CFOs revealed the extent to which the two techniques have become an embedded part of corporate monitoring and control. Driver-based planning is used in 65% of production operations, with sales second at 55% and marketing and service joint third at 35%. CFOs cited time savings from shortened budget cycles as the primary reason for moving to driver-based planning.

Unsurprisingly, 100% of survey respondents said their company used rolling forecasting in sales. But they also revealed the extent to which rolling forecasting is now moving out from that bridgehead to penetrate other functions including cost centres (50%), investment (40%) and HR (25%).

Respondents identified automation that supports centralised business models and collaborative workflow as a key element in successful adoption of driver-based planning and rolling forecasting. Without automation the greater frequency and larger datasets of driver-based planning and rolling forecasting were simply unmanageable. Automation with centralised data collection displaces emailed spreadsheets, generating typical savings in management time of between 30-50% while at the same time allowing companies to experiment with the frequency of planning and rolling forecasting in order to reach the optimum balance between granularity and timely, accurate information.

About prevero Group
prevero provides Business Intelligence (BI) and Corporate Performance Management (CPM) solutions for financial and business planning, analysis and reporting. With its portfolio, prevero supports the sustainable improvement of decision and management processes in companies of all sizes and from all industry sectors.

The prevero 360® platform offers a comprehensive CPM environment with a set of well-founded business applications for all areas of strategic and operative business management. These areas include strategic planning, integrated profit and financial planning, risk management, consolidation, individual BI and multiple project management, as well as sector-specific management. prevero also provides special data models for energy providers, airports and sports clubs customised for the particular requirements of the respective sectors.

prevero Group is headquartered in Munich, Germany and has further branch offices in Europe, Asia and the USA. prevero maintains an international partner network and a large customer base including, amongst others, Audi, BMW, Edeka, Endemol, Fresenius Medical Care, Mercedes, Swiss Life and Swisscom. prevero

Further editorial information:
prevero EMEA marketing director Emma Tompkins
emma.tompkins@prevero.com +44 (0) 7949 278497

Sage Partnership PR Geoff Twibell
geoff@sagepartnership.com +44 (0) 118 9344007

This press release was distributed by ResponseSource Press Release Wire on behalf of The Sage Partnership in the following categories: Business & Finance, Computing & Telecoms, for more information visit http://pressreleasewire.responsesource.com/about.