Aligning ICT with Financial Budgeting and Forecasting Business Process
Dhadwal, Amandeep (2015)
Haaga-Helia ammattikorkeakoulu
2015
All rights reserved
Julkaisun pysyvä osoite on
http://urn.fi/URN:NBN:fi:amk-2015101015312
http://urn.fi/URN:NBN:fi:amk-2015101015312
Tiivistelmä
Focusing on improvement of budgeting and forecasting process has direct and critical impact on organizational fiscal health. Pinning the future state timely drives efficiency, improves planning, and puts down the building stone for long term success and higher profit margins.
The following research is based on the same principles. The research was done with organization’s business and IT team with a focus of providing suggestions that enable IT to be better aligned with financial budgeting and forecasting business process.
The research was initiated by interviewing people from business and IT scoring the key factors based on capability maturity model (CMM), pointing out process related problems and issues, and finally laying down expectations from the IT systems and software. All the areas fall in the standardized category as per CMM.
Some of the key findings were, budgeting and forecasting process was rigid and slow, there was need of process harmonization and system integration to reduce the cost and speed up the process.
Development suggestions were based on removing the challenges mentioned by the interviewees. Some of the key suggestions were of using leaner process, harmonization, adapting rolling forecast for budgeting and forecast process to get real time business facts, agile principals for IT delivery, working with short iterations and development based on release.
Overall plan of change management will ensure acceptability of new process and IT development.
The following research is based on the same principles. The research was done with organization’s business and IT team with a focus of providing suggestions that enable IT to be better aligned with financial budgeting and forecasting business process.
The research was initiated by interviewing people from business and IT scoring the key factors based on capability maturity model (CMM), pointing out process related problems and issues, and finally laying down expectations from the IT systems and software. All the areas fall in the standardized category as per CMM.
Some of the key findings were, budgeting and forecasting process was rigid and slow, there was need of process harmonization and system integration to reduce the cost and speed up the process.
Development suggestions were based on removing the challenges mentioned by the interviewees. Some of the key suggestions were of using leaner process, harmonization, adapting rolling forecast for budgeting and forecast process to get real time business facts, agile principals for IT delivery, working with short iterations and development based on release.
Overall plan of change management will ensure acceptability of new process and IT development.