All businesses face risk. The goal of the forecasting team is to provide insights to business stakeholders on the impact of potential risks in order for them to better navigate their business.
Insights into the forecast assumptions that drive risk—the impact to business results and potential estimates on the probability of those risks—are critical for decision makers to understand in order to incorporate them into their strategies and investments.
The discipline of risk management is one of the areas that seems to suffer most when issues of inefficiency impact the process. This is one of the last areas to invest in so when timing and resources are pressed, this often gets postponed or deprioritized.
Enterprise Forecast Process Improvement allows: