SMACTWorks

How can stakeholders in an organization plan their company's financial plan accurately in a time when there is a rapid change in the technology and business models? The change in the technology is inevitable and management boards and other stakeholders are looking to the CFO and finance team to help them in providing solutions that will have a lasting impact. Many organizations are not prepared when unexpected events occur, like the COVID-19 pandemic situation. Modern CFOs who are using scenario planning can survive during times of uncertainty and can eliminate some of the guesswork. This type of scenario planning allows finance teams to run faster while giving them the agility to visualize multiple "what-if" scenarios; more frequent scenarios to examine potential impacts on the business enables a faster assessment response. This COVID-19 pandemic has shown that there is a lack of historical data for finance teams when creating plans, causing them to make swift decisions