Although your Company may be well-organised and resourced, significant problems can consume its strategic planning process. These problems can be a result of financial modelling experience and a lack of best-practice financial modelling with the model build of the strategic plan.
Your Company might be struggling to consolidate its financial statements into one source of truth. It may be greatly impacting your ability to undertake value-adding financial analysis, strategic forecasting and financial planning.
Some stakeholders may perceive historical strategic plans as redundant for the new financial year’s planning. Macro and micro factors may have changed significantly for your Company, in terms of business units or cost/revenue drivers, which the legacy strategic plan may be unable to model.
The thorough nature of building or updating a strategic planning financial model requires a great deal of information. Although a strategic plan is a high-level overview of your Company, it is important to obtain immense detail as it will better assist you in completing the strategic plan.