Boston, May 2, 2024–(BUSINESS WIRE)–Bord International has released its second annual World Planning Survey. This research is based on insights from 1,500 business leaders across a variety of geographies and industries and reveals the need to focus on growth and navigate complex markets through sophisticated planning strategies. I'm doing it.
In 2023, business organizations took steps to overcome the rapid-response global pandemic mode and systematically advanced modernization efforts, including upgrading business systems, processes, and platforms. In 2024, a new foundation was in place and the organization was ready to build on these investments and accelerate growth. But the data paints a more nuanced picture of the business landscape today.
Is your company poised for a breakthrough?
The World Planning Survey reveals a huge gap between aspirations and reality. According to the survey, 78% of respondents believe that his planned transformation attempt in 2023 was successful. However, despite this optimism, only 16% of companies achieve the “gold standard” of business planning. Continuous agile planning.
Taking a closer look at the areas where organizations reported gaps, the study identified three key challenges. 47% reported data issues and the inability to operate without reliable, reliable data. Additionally, 47% highlighted arduous manual tasks that hinder agility and hold organizations back. Additionally, 42% admitted that traditional planning tools cannot meet the complex demands of advanced scenario planning.
Static spreadsheets have challenges
Furthermore, the World Planning Survey found that more than half (55%) of those surveyed admitted that they still perform many planning processes in traditional spreadsheets such as Excel. While spreadsheets have traditionally played a valuable role in planning, their ability to perform complex scenario planning and effective collaboration places artificial limits on the wide range of possible future situations.
Survey data supports this point. 71% of businesses report not fully considering potential scenarios when planning for growth, leaving them vulnerable to unexpected events.
Despite the challenges, the path forward is promising
A positive sign is that companies are recognizing the limitations of spreadsheets and starting to embrace radical innovations like AI and technology-enabled agility. The survey found that 45% are considering machine learning to improve decision-making, and 44% are looking to AI-powered business intelligence tools.
”Scenario planning is an important tool for helping companies navigate an increasingly complex business environment. ” Jeff Casale, CEO of the Board of Directors, commented:. “However, traditional scenario planning methods can be time-consuming and resource-intensive, so it's no surprise that AI is emerging as a powerful enabler for future planning models and activities. there is no.”
By adopting AI and next-generation planning tools, companies can quickly model market scenarios and the potential impact of decisions and develop the best approach to deal with unexpected changes. This enables leaders to become more resilient, make data-driven decisions, and ultimately secure critical competitive advantage.
For more information about Global Planning Survey '24, visit https://www.board.com/en/document/global-planning-survey-2024.
About the Board of Directors
Board Intelligent Planning solutions help more than 2,000 organizations around the world plan smarter, enable actionable insights, and achieve better outcomes. Industry leaders trust Board to unify strategy, finance, and operations through more integrated and intelligent planning, giving them complete control over performance. Global companies such as H&M, BASF, Burberry, Coca-Cola, KPMG, and HSBC partner with Board to transform their planning processes to build competitive advantage.
Founded in 1994 and currently with 25 offices worldwide, Board International is recognized by leading analysts such as BARC, Gartner, and IDC.
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contact address
Victoire Despois
Vice President of Global Communications
vdepoix@board.com
