The CFO's Scenario Planning - Make Proactive Decisions in Times of Uncertainty
Listen to article How can stakeholders in an organization accurately plan their company's financial plan in a time of rapid change in technology and business models? The change in technology is inevitable, and management boards and other stakeholders are looking to the CFO and finance team to help them provide solutions that will have a lasting impact. Many organizations are unprepared when unexpected events occur, like the COVID-19 pandemic. Modern CFOs using scenario planning can survive during times of uncertainty and 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 enable a faster assessment response. This COVID-19 pandemic has shown a lack of historical data for finance teams when creating plans, causing them to make swift decisions and ...