5 Indicators That Your Company Needs A Finance Transformation – Financial Forecast Cycle Time (Part 2 Of 5)
Getting timely, accurate, forecasted financial information allows a Company to make educated decisions that drive and sustain long-term value. Which is why Financial forecasting continues to be a high priority for many CFOs. In this context, Financial Forecast does not refer to a budget but a financial iteration or scenario. For example, a budget could be set once a year and take anywhere from 30 days to 6-months to finalize. A Financial Forecast may leverage the data within the budget but makes assumptions regarding future performance that is modeled over a predetermined time period and used to drive management decision making including the identification of new opportunities, mitigation of risk and the matching of revenue and expenses.
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