Rolling Forecast

By Neil Ainger, published first at GTNews

Is it realistic to completely abandon the budget? How can Rolling Forecast help with going "Beyond Budgeting"?

At one of the London FP&A Board meetings, a case study from Maersk Group was presented about how the shipping, transport and oil firm has benefitted.from Rolling Forecast and going Beyond Budgeting.

“We’ve abolished the annual budget completely and only use rolling forecasting (RF) now,” said Matthijs Schot, head of performance & analysis at AP Moller Maersk, as he shared his company’s implementation four years ago of an RF process and the lessons they’ve learnt.

By Ernie Humphrey, CEO at Treasury Careers

Rolling Forecasts are an essential tool for financial planning and analysis (FP&A), with the potential to radically transform the traditional corporate budgeting process. If implemented properly, a rolling forecast expands planning horizons, reduces planning cycles, and helps in executing organizational strategies. 

Rolling Forecast is an essential tool for financial planning and analysis (FP&A), with a potential to radically transform corporates’ traditional budgeting process.

If implementing properly, the Rolling Forecast expands planning horizons, reduces planning cycles, and helps in executing organisational strategies. Companies will realise the Rolling Forecast's full potential only when they are ready to change. If it is not implemented with thought, it can become another non-value adding process, an expensive time-waster without benefit to the organisation.

This global webinar shared insights of the International FP&A Board on Latest Trends in Rolling Forecast.

Matthijs Schot, Head of Group FP&A at Maersk Group and a member of London FP&A Board gave an overview of his company’s experience on implementing Rolling Forecast and Going Beyond Budgeting. 

This is the recording of the original global webinar that took place on the 15 August 2017.

By Stefan Spiegel, CFO SBB Cargo AG, former Head Controlling of Retail Division of Swiss Post 2017

In the period from 2001 to 2006, the Retail division of Swiss Post transformed itself from a public service company into a business-driven sales organization. Crucial drivers of change were, on the one hand, the adaptation of the steering systems up to the final implementation of a "Beyond Budgeting" philosophy and, on the other hand, a humanistic attitude of management and finance department against all employees. The success was amazing: The division succeeded in increasing the sales of new retail products from 0 to over 400 million CHF, optimizing the bottom line by more than 100 million CHF or more than 5 percentage points and becoming the first state-owned company in Switzerland to win the EFQM- Award for Business Excellence.

By Steve Morlidge, Business Forecasting thought leader, author of "Future Ready: How to Master Business Forecasting" and  "The Little Book of Beyond Budgeting" 

I’d like to claim that I am not easily annoyed….but that would be untrue. And one of the things that is guaranteed to irritate me are glib statements from people who claim to be experts – particularly if it is part of an act to get people to buy something.