An integrated business platform ensures proper coordination between various business functions, such as supply planning, financial planning and sales planning. This helps the organization make faster and better decisions. And that’s not just it.
Through IBP, there is a better alignment between strategic goals and financial and operational activities. Because everyone within the organization gains insight into what the organization wants to achieve, it is possible for departments to work together towards a common goal.
With more transparency between different departments, everyone can work from a shared view of data and work can be done on a scenario planning basis. This creates the advantage that both joint output and output per department can be determined.
More insight automatically means more awareness. Employees can be better accountable for their company-wide actions and the associated impact. This results in a growing accountability.
Implementation of planning software must be done quickly and often on very short notice. In practice, we often see the following challenges when implementing Integrated Business Planning.
- Spending too much time on IT instead of the process.
- Spending too much time on the content of the planning tool instead of the people.
- Wanting to include margin optimizations immediately, while in practice this is still too early.
It is desirable for an organization to be able to respond quickly to changing market conditions. The cause often lies in the lack of connection between the financial planning and operational activities. With Integrated Business Planning (IBP), which also includes Supply Chain Management (SCU) and Sales & Operational Planning (S&OP), Vena helps your organization break through planning silos and allow planning processes to work together in an integrated environment.
Quick implementation with Vena
Practice shows that the implementation of IBP for many organizations is a complex and time consuming task. Vena software is modular which means that you can use Vena while it is being implemented in the organization. This is very suitable for organizations that want to move quickly and don’t want to wait for months of implementation.
Vena breaks the planning silos within the organization by transforming operational and financial data into an integrated business planning ecosystem.
With Vena, you can easily find correlations between financial and operational data, integrated into one business planning ecosystem. The Integrated Business Planning software gives you high-level, up-to-the-minute insight into current revenue forecasts. We do this by connecting Excel with the data from GL, ERP, CRM or other systems.
Vena provides flexible and detailed insights per virtual store. The implementation takes only a few months. A Vena specialist from Finext helps to take over regular tasks, giving you as an organization more time for the implementation. At Bol.com, this method provided a lot of speed, so the organization was running on Vena within a few months. Want to know more?
With IBP, you get one set of numbers so that sales, marketing, and supply chain work together toward one goal. Plans from different departments come together in this and are forged into one functional plan.
Like any other organization, the goal is to minimize risk and maximize profit. In this, IBP goes further than S&OP, because IBP is used in a targeted way to achieve both strategic and financial goals.
Vena excels in Excel, combining the best parts of Excel with the power of a complete financially driven planning solution. Finext’s Vena team has certified Integrated Business Planning experts to help grow your organization.
Finext has received the Distinguished Partner label from Vena in 2021. This makes Finext a dedicated and integrated part of the Vena team. For more information on these labels, check out the official Vena partner site.
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