"Someday" I Will Need a Post COVID Plan

Written By: Hillary Sich

“Someday” I will update my forecasting and planning process.

Is this a familiar statement?  Have either you or a member of your Management Team expressed frustration with the timeliness and accuracy of forecasting?

“Someday” is now!

Think back 2-3 months (yes, before COVID-19).  A couple of days (or even a week in some cases) to update a forecast seemed like an acceptable response time – and a couple of inaccuracies due to broken Excel formulas were expected.

Fast forward to a post COVID-19 world.  You and your team need the ability to complete a scenario plan in minutes with 100% accuracy.

Here is a real-life example:

Question:  What is the effect, at the Enterprise level, of closing a non-performing unit?

Excel Solution, depending on the level of sophistication of the Excel workbook (time spent 1-2 days):

1.     Calculate and Deduct the revenue and expenses for the unit from the Company Total

2.     Adjust any Enterprise level revenues and expenses related to the closing (lease cancellation, severance pay, sale of equipment, support head count, etc.)

3.     Roll up changes to the Enterprise level forecast for analysis

4.     Repeat the process with any requested changes

Anaplan Solution (time spent less than 1 hour):

1.     Check a box to indicate closing status and enter closing date

2.     Enter any Enterprise level parameters associated with the closing

3.     Analyze at the Enterprise level

4.     Make changes in minutes to provide real time results

Now think about the reality of conducting this kind of analysis during and post Covid19 where this would be done for multiple units. Leveraging Anaplan, you and your team can:

·       Calculate the effects of reduced hours and/or closing is completed in minutes, not days.

·       Understand the effects of re-opening and/or expanding business hours can also be completed in minutes, not days

·       Easily expand calculations to include head count planning that directly corresponds to any forecast

·       Utilize the model to expand business drivers that are impacted as a result of these changes (supply planning, capital expenditure planning, and any other connected planning model)

“Someday” is today, Allitix’s team of expert consultants are here to help your business plan for a post COVID19 world, and help you come out well prepared and stronger than ever.