|Home > Who We Are > Press Releases|
Long-Range Planning Benchmark Study Exposes Gaps in Processes, Technology and Data
Effective capital planning hindered by low-quality data, inability to adapt quickly to change, and reliance on spreadsheets
Austin, TX — February 25, 2013 — Few organizations excel at selecting and managing initiatives and capital projects, according to a new Long-Range Planning Benchmark Research Report. Conducted by Ventana Research and sponsored by Planview® and Financial Executives Research Foundation (FERF), the study surveyed 289 global long-range planning professionals across various industries to discover their practices and needs as well as the potential benefits from improving their existing processes, information and systems.
Companies use long-range planning to determine the best strategy for succeeding in their markets and to ensure they have the assets needed to support their strategic objectives. This planning includes the allocation of investments in those assets and identifying resources, such as financial and personnel, sufficient to support them. About two-thirds of the survey respondents said their main objectives are to help develop the annual budget, optimally allocate capital or project investments, and influence corporate strategy.
"Efficient long-range planning is critical in today's dynamic business climate," said Marie Hollein, president and CEO of FEI. "The recommendations provided in this research report for long-range planning should help financial executives streamline their companies' planning processes."
To learn how organizations can immediately use this information, register for the webcast New Benchmarks for Long-Range Planning to be held Wednesday, Feb. 27, 2013, at 11:30 a.m. EST. The webcast will feature industry experts Bill Sinnett, senior director, research of FERF, the research affiliate of Financial Executives International (FEI); Robert Kugel, SVP and research director of Ventana Research; and Marcus Klein, product line manager, Planview.
"The research shows that although there are legitimate differences in how companies plan, there are also important elements that can make these efforts most effective," commented Robert Kugel, senior vice president of Ventana Research's financial performance management practice. "Our research provides best practices and maps improvement opportunities that will help organizations plan more effectively and move beyond the use of spreadsheets into a connected approach to long-range planning."
"Improving the management of projects and major initiatives requires a well-designed, consistent process that emphasizes measurement and responsibilities," said Linda Roach, vice president of marketing, Planview. "As the Ventana Research study reveals, the best results are achieved when this process is supported by software designed to facilitate initiative-specific data collection, forecasting, analysis and reporting."
Share This Page