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Forecasting in a Crisis
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How frequently do you now prepare forecasts for Senior Management?
other, please specify
How frequently do you prepare forecasts for Senior Management?
(you answered "other" to the question above)
Has the frequency of forecasting changed because of the coronavirus?
Yes, we forecast more often
Yes, forecasting is now 'on demand'
Yes, we forecast less often
Do you now run multiple scenarios in your forecasts because of the coronavirus?
Yes, we run 2 or 3 scenarios
Yes, we run more than 3 scenarios
No we only prepare one scenario
How much time and effort goes into forecasting?
It is a simple extension of the month end process
It is a major task, but only for the finance function
It is a major task involving the finance function and department heads
It is a constant drain on resources across the whole business
What software tools do you use for forecasting?
Excel only, but we just forecast one scenario
Excel only, even when we run multiple scenarios
Specialist software designed for running multiple scenarios
Briefly describe the software you use
You mentioned above that you use “specialist” software for forecasting. Can you tell us what it is, or briefly describe it?
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September 22, 2020
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