We live in a digital revolution that is gaining momentum from day to day. Current business models are braking up and the new, emerging ones are at least ten times more effective. Time span for decision making and planning is shortening. Organizations and hierarchies are getting lower, more and more business decision are made by independent teams. Teams, that decide autonomously what to develop and produce. They get organized by themselves according to current business situation keeping customer at the center of their thinking. To lead, manage and plan for the future in such a company are challenging tasks. The key question is how to be successful in these tasks?
For us, corporate planning in digital age is a hunt for a winning digital platform. It includes all the coordinated and systematic planning activities for shorter and longer time periods. The results are alternative strategies and action plans to build the outstanding platform. Evaluating alternatives and selecting the winner strategy is combined effort of the planning team.
Successful companies renew their strategies and plans continuously. Innovation, disruptive thinking and transformation are the essence of planning. New ideas and plans need to be tested and evaluated, and this is where the data and BI-capabilities enter the scene. In ever changing business environment plans are updated densely.
One interesting thing that the rapid pace of change is causing is the overlapping of strategic and operational planning. To overlap does not mean blending. Both still have their characteristics ie operative planning focuses on short period activities and strategic planning meets the challenges for sustainable growth. Capability to produce and use accurate data for both purposes is essential in planning.
Establishing a continuous planning process is the first step in migrating from analog company to an always-on, real-time and information rich digital business. In such process alternative paths and strategies are being built and analyzed by planning team and team members. Participation is part of everyone’s daily or weekly activities. This is also the way to build strong and adaptable company culture, which in turn is fundamental in surviving and succeeding in the digital revolution.
We are working with many companies and organizations in solving their toughest problems in strategy and operational planning. Supporting the planning process with appropriate tools and bringing about our functional skills and industry knowledge are typically our main tasks. The operational change in planning process is seen in a number of planning, management and reporting/BI-systems, which we have developed for our customers.
Gradually every company in every industry will be affected by the digital revolution. The journey towards growth and success starts from transformation of operating model to cut costs, so that new investments can be made to new capabilities, processes and technology. MINT valueAct® is a software tool, which enables effective and productive corporate planning in a digital world.