INTEGRATED BUSINESS PLANNING IS KEY TO BUILDING OPERATIONAL RESILIENCE
Agility is a key requirement for businesses today as they adapt to a constantly evolving work environment . Good preparation lies in expert planning . Andreas Simon , Regional Director MEA at Jedox , talks to us about how Integrated Business Planning can help businesses prepare for unforeseen circumstances .
Whenever an economy undergoes a recovery , the mentality of ‘ never again ’ often kicks in . Organisations that navigated challenging market conditions emerge with a newfound sense of urgency to address how they can make their operations more resilient , so the next crisis that may arise feels more like a ripple than a wave . In this journey to increase resilience , competitive businesses frequently look to cutting-edge technology for guidance . This often means having very frank conversations about the kind of business planning that will allow an enterprise to navigate the region ’ s rapidly evolving trends . The limited analytics capabilities of spreadsheets and siloed , manual data collation is quickly being rendered obsolete by extant realities .
The approach to traditional business planning , commonly used until recent years , is being replaced by a new method that allows firms to understand their entire business at a glance and take meaningful action to enhance operational efficiency . Integrated Business Planning ( IBP ) is a cross-functional methodology that brings together traditionally separate business units so they can strategise as one for more effective and efficient business performance that supports increased operational resilience .
Instead of finance , HR and other business units operating in almost total isolation with private KPIs and metrics that enhance only their operations , IBP helps tear down silos and opens