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before Each department had to submit a budget consisting of 90 spreadsheets that took weeks, if not months, to get approved.
now Spreadsheets were collapsed into a single database, so senior managers get financial forecasts every two weeks instead of every two months, as before.
NATIONWIDE FINANCIAL CORP.
before Forecasts did not come close to actual costs, forcing key initiatives to be slowed or scrapped.
now New software revises forecasts continuously and lets the CIO, CFO and CMO review the changes, enabling $4.5 million in savings on one recent project alone.
before Bad forecasts in the face of a collapsing telecom market led to $100 million of excess inventory last year and a plummeting stock price.
now Technology ties point-of-sale data from distributors to in-house marketing and inventory data, helping to keep inventories low amid a volatile market.