Business Resolutions for 2011
Make your 2011 Business Resolutions Stick
Given the dizzying pace of business change today, annual planning processes may no longer be adequate. By the time your plans are approved they may already be out of date. How do you remain flexible enough to react to volatile markets? How do you chart out your future if you’re scrambling to change direction?
Fortunately, there are now advanced tools to help your business stay agile and responsive, even in the face of constant change. And there are processes that are vastly more effective than the cumbersome methods designed for the past.
So while you’re planning for 2011 – and perhaps making your personal resolutions – why not take practical steps to keep your plan on track? Here are 7 resolutions that you can take to help you stay the course the whole year through.
Resolution #1: Get current with the right tools
Spreadsheets are fine for basic calculations – but if you’re relying on them for planning, you’re probably not going to see the best result.
Why? Here’s the problem: spreadsheets are difficult to update and reconcile. Everyone in your organization might have a different version. Which version is most accurate? Where do the numbers come from? How do you keep errors from perpetuating when you correct one spreadsheet, only to have the mistake pop up somewhere else?
But when you rely on SAP solutions for your financial planning and budgeting, all of your information is linked – so you have a single version of the truth. Not only does this eliminate hours of manual labor but it allows you to make changes across all lines of business. No files to manipulate, no versions to update – just clear, reliable data.
Resolution #2: Get fit with waste-reducing processes
Shape up your productivity by streamlining your processes. The fact is, not all work needs to be done manually – there are many steps in your business planning and forecasting process flow that can be streamlined and automated.
The right solutions can help you simplify your planning, budgeting, forecasting and reporting – doing much of the heavy lifting so that you can take the time to strategize. And because your processes are faster and more efficient, you’ll have the information you need for better decision-making – so you can capitalize on new opportunities as they come by.
Resolution #3: Get orderly by planning first
It’s always tempting to jump right into the tangible business of budgeting – but you’ll be missing an opportunity if you don’t take the time for planning and strategy first. And the good news is that SAP helps make it easy to create your plan – and then to connect the dots between your plan of action and the budget you build to align with your strategic goals.
SAP also makes it easy to take the next step – cascading your goals down through your organization and ensuring that individual budgets and targets are in alignment. As a result, you can deploy resources more efficiently throughout your enterprise to keep your plan on track.
Resolution #4: Get risk savvy with early warning systems
There’s a world of difference between calculated risk and recklessness. You can’t ignore risk – so you need a plan that takes it into account.
Rely on our software to help you make more calculated decisions with risk-adjusted planning. Minimize business and compliance risk with transparent financial data – and be in a better position to react and adapt by understanding your variances and root causes.
You can also set alerts to warn you when key indicators are off track – so that you’re in a position to adjust your plan quickly.
Resolution #5: Get speedy with your forecasts
Like annual plans, annual forecasts may soon be extinct. As market circumstances change, you want to adjust your forecasts so that you don’t have too much inventory on hand – or be caught short, unable to meet customer demand.
Because SAP helps you link all parts of your organization, you can easily see the relationship between your forecasts and supply chain – as well as the effect of your service delivery on customer satisfaction.
Resolution #6: Get flexible with the right tracking
Without a framework for follow up, it’s easy for your plan to slip off track. But when you rely on powerful software, it’s easy to monitor your results – and make sure that everyone knows where they stand.
See how your organization is performing so that you can quickly pinpoint bottlenecks or areas requiring attention – and take corrective action. Make performance data available to all employees in a relevant, personalized way – so that each individual can measure ongoing progress toward goals.
Resolution #7: Get active – keep your plan alive
You can be well prepared to face the coming year if you keep your 2011 plan on hand – not on the shelf. Why spend countless hours developing your plans unless it guides daily actions?
When you rely on SAP solutions, your business plan isn’t a time capsule of ideas formulated at the beginning of the year – it’s a living document. You have the visibility and transparency you need into your company’s data – and the integrated collaborative business processes to support your plan.
Summary: Reach your goals this year – by relying on SAP
Unlike some resolutions, these business ones won’t be hard to keep – if you have the right solutions in place. And when it comes to the support available to your business from SAP, what we’ve described above is just the tip of the iceberg.
