Teamwork With Financial Planning

If the planning process is focused only in the Economic Planning Agency (EPA), than the complexity of automation of the collective work of users in MS Excel is felt slightly. But the development of planning technology involves the engagement of a greater number of planners – business units, branches and offices. This measure allows to obtain plans, more close to reality as well as to increase the responsibility of CFA for their implementation.

There are a number of technological methods for collective planning – the use of key performance indicators (KPI), standards, regulations, etc.
In calculation of budget lines we use standards – centrally mounted indicators. There are several thematic groups of standards: standards of planning of banking products, estimated planning, bidding prices.

Standards are used in algorithms that automatically calculate the values of budget items on the basis of volume and quantity indicators. We should set standards in the EPA and they are used by planners in planning.

Typically, the values of standards should not be changed by planners. Centralized shift of value standard in the planning process leads to the invalidity of the plans that use this standard. Planners will be forced immediately to respond to this and to reschedule their budgets. In this way it can be achieved an operational management of planning process in the divisions of EPA. But a number of standards can be installed in the EPA, as recommended, but not mandatory. In this case the branch can change them to reflect the specifics of its region. Thus, we can provide necessary flexibility in the central standard-setting.

Regulation is a necessary condition for ensuring the collective work of many users. The essence of the rules – is to provide a clear delineation of responsibilities and rules of interaction between members of the planning process. The compliance with the Rules can be provided by intensive dialogue between the EPA, subsidiaries and business units. Planners accept clear budgetary targets and refines for them; they try to reach (with established standards) the KPI in the established rules of time. Employees of EPA are relieved from routine of monitoring plans branches; they can change at any time standards, KPI, a budget model and can expect for immediate response of planners. As a result, planning can be shortened significantly, and each hour of work of each member of the planning process can be used more effectively.

Effective operation of tens and hundreds of users in real time is possible only in a system with a single database. For banks that have geographically distributed network of branches and additional offices, it is especially important. Another important requirement for the automation of planning is ergonomic of user interfaces. Easy interfaces can significantly save time in training and work with the system.

Need help with financial planning – then we seriously recommend you to check out this web site with financial planning advice and other helpful information.

Plus, some general tips – today the Internet technologies give you a really unique chance to choose what you need at the best terms which are available on the market. Funny, but most of the people don’t use this opportunity. In real life it means that you must use all the tools of today to get the information that you need.

Search Google and other search engines for complete financial planning. Visit social networks and have a look on the accounts that are relevant to your topic. Go to the niche forums and join the online discussion. All this will help you to create a true vision of this market. Thus, giving you a real chance to make a smart and nicely balanced decision.

And also sign up to the RSS on this blog, because we will do the best to keep this blog tuned up to the day with new publications about the market of financial planning products and services.

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