Business insights

Integrated business planning: the ultimate approach

Integrated business planning: the ultimate approach

The classical approach to financial planning is linear, organised by function, with each team working separately on their own process and metrics. As a result, putting together the big picture requires a lot of time, getting in the way of the adaptability and resilience needed to react quickly and decisively in turbulent times. This is where Integrated Business Planning, or IBP, comes in connecting finance, sales, HR, operations and supply chains, integrating all relevant data from across the whole organisation. Ultimately, IBP can help break down traditional barriers and bridge performance management gaps, delivering a complete picture of an organisation and its performance, enabling teams to work smarter, collaborate better and reach their goals faster.

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Connecting the entire organisation with the same business plan is now possible with Jedox platform and Fincons’ system integration skills.

Reducing complexity with integrated business planning solutions

Introducing Integrated Business Planning  (IBP) solutions allows organisations to move from segmented planning applications to a single, unified collaborative platform so that even the most complex businesses can achieve straightforward, future-proof planning.

A well-integrated business planning solution can, in fact, lead to more accurate and simpler plans with these distinctive features:

  • Iterative: all different decision markers’ view flow together to continually refine the plan in real time instead of waiting for the handover between teams
  • Collaborative: cross-functional teams across all departments come together to exchange information and collaborate on decisions
  • Consistent: key metrics are aligned across all groups, eliminating the need for exchanging figures between teams
  • Strategic: plans and decisions become based on the big picture and support mid- and long-term business strategies

Take efficiency and flexibility to the next level

Integrated Business Planning solutions enable teams in different departments to unify their processes, eliminating inconsistent reports and forecasts, which contribute to a lack of transparency and duplicated efforts.
With its quick user adoption by leveraging Excel and other familiar Office solutions and effective integration with other core systems in use within the company, IBP can help achieve seamless planning, reporting and analysis across the entire organisation, thanks to a unified system and a single source of truth, that also enables adaptable planning.

Adaptable planning is crucial in today’s digital-first and hybridized environment, where traditional yearly planning and quarterly reforecast is not sufficient anymore and enterprises must be able to pivot quickly as data volumes continue to increase and global issues persist.

What is needed for IBP to help a business succeed?

Integrated Business Planning can help a business succeed in a sustainable way if three conditions are met:

  1. The planning business model must be designed for the P&L owner and not for individual functions in the business. An IBP process designed to help P&L owners make effective decisions as they run the company creates requirements different from those of a process owned by individual functions, such as supply chain or manufacturing.
  2. Processes are built for purpose, not from generic best-practice templates. To make IBP a value-adding capability, the business will probably need to redesign its planning processes.
  3. The people involved in the process have the authority, skills, and confidence to make relevant, consequential decisions. Every IBP process step needs autonomous decision making for the problems in its scope and must therefore include decision-type authority, decision thresholds, and escalation paths if necessary. Capability-building interventions should support teams to ensure disciplined and effective decision making.

Fincons & Jedox join forces to deliver next-gen IBP solution

In the era of automation and AI, integrating strategic, financial, and operational planning and performance management is crucial as it leads to more accurate and simplified plans, forecasts, and performance tracking.
A next-gen Integrated Business Planning solution allows  different teams to create their own reports and analysis  and to combine data in any way that makes sense for them – seamlessly and autonomously.

That is why Fincons Group, aware of the challenges organisations face every day, has partnered with Jedox in designing, developing and running planning and performance management solutions based on Jedox’s platform with its three pillars of adaptability, integration, and simplification empowering organizations to achieve a culture of decisiveness.

By combining Jedox’s platform features with Fincons’ system integration skills, enterprises can count on planning and performance management solutions that integrates all the data that matters into a unified application.
Experts at interfacing with systems where data is stored, Jedox and Fincons eliminate silos and delivers a holistic plan that drives decisive planning.
Users quickly grasp how sales operations, workforce plans, and  other business activities impact the bottom line of P&L and make collaborative, real-time adjustments to meet corporate objectives.

Giuliano Altamura - Fincons Group Giuliano Altamura

Fincons Group

Global FSI BU General Manager and UK Country Manager

Alessandro Valerio - Fincons Group Alessandro Valerio

Fincons Group

Senior Manager – Financial Services & Insurance