Introducing the Board Global Planning Survey 2023, a
comprehensive study that sheds light on the challenges and impacts of planning
transformation in the face of unprecedented events. As businesses worldwide
grapple with the aftermath of global crises, it becomes evident that a
significant number of organizations are unprepared for continued disruptions.
With keywords like planning transformation challenges, unprecedented events,
and inefficient practices, this survey highlights the urgent need for strategic
planning, overcoming obstacles such as technical capability, skills gaps, and
inefficient tools. Join us as we delve into the findings and explore the
imperative of continuous planning to navigate the era of continuous disruption
and gain a competitive edge.
- Unprecedented events, including the pandemic, supply chain disruptions, and economic crises, have propelled planning to the forefront, prompting organizations to take it more seriously and allocate increased budgets for transformation.
- The survey reveals that businesses heavily reliant on outdated tools like spreadsheets face inefficiencies and time-consuming planning processes, necessitating a new approach for strategic planning and adaptability in the face of future globally significant events.
The past few years have witnessed a string of economically
disruptive events, ranging from the global pandemic to supply chain disruptions
and recessionary pressures. These events have served as wake-up calls for
businesses worldwide, with 85% of decision-makers acknowledging a heightened
focus on planning within their organizations. Budgets for planning
transformation have increased, and board members and investors are demanding a
more strategic approach to navigate these uncertain times effectively.
Despite the recognition of the need for planning
transformation, the survey revealed that 90% of businesses faced challenges in
executing their initiatives. A lack of technical capability emerged as the top
obstacle, cited by over a quarter of decision-makers. Additionally,
organizations struggled with skills gaps and a scarcity of team resources,
further hindering successful planning transformations.
Inefficient planning practices proved to be a major
roadblock in the journey towards effective planning transformation. Shockingly,
nearly all decision-makers (98%) admitted to relying on outdated tools such as
spreadsheets, a technology dating back to 1985. This reliance on antiquated
tools not only hampers efficiency but also consumes valuable time, with
planners spending an average of 27 hours per week on scenario modeling alone.
It is evident that a new approach is urgently needed to overcome these
inefficiencies and embrace more integrated and intelligent planning methods.
The survey findings underscore the necessity for continuous
planning, as organizations face an era of perpetual disruption. Marco Limena,
Board CEO, emphasizes that businesses must recognize this new reality and
continuously adapt to gain a competitive edge. By advancing digital
capabilities and adopting a more strategic and agile approach to planning,
organizations can effectively navigate future globally significant events such
as supply chain disruptions, rising interest rates, pandemics, and recessions.
Q: What is planning transformation, and why is it crucial
A: Planning transformation refers to the process of adopting
new strategies, technologies, and approaches to improve the efficiency and
effectiveness of planning within organizations. It is crucial because it
enables businesses to navigate through unprecedented events, such as the global
pandemic, supply chain disruptions, and economic crises, with agility and
Q: What are the main challenges faced by businesses in
A: The survey conducted by Board International highlighted
several challenges faced by businesses in planning transformation. The top
challenges include a lack of technical capability within the organization,
skills gaps among employees, and scarcity of team resources. These obstacles
often hinder the successful execution of planning transformation initiatives.
Q: Why is there a need for a new approach to planning?
A: The reliance on outdated tools, such as spreadsheets, is
one of the key reasons why a new approach to planning is necessary. The survey
revealed that a significant percentage of decision-makers still use
spreadsheets for planning tasks, which not only results in inefficiencies but
also consumes valuable time. Adopting more integrated and intelligent planning
methods is crucial to overcome these inefficiencies and ensure organizations
can respond effectively to ongoing disruptions.
Q: How can businesses adapt to the era of continuous
A: To adapt to the era of continuous disruption, businesses
must embrace continuous planning. This means continuously reviewing and
updating their planning strategies and processes to stay ahead of evolving
challenges. Additionally, organizations should invest in advancing their
digital capabilities to leverage intelligent planning tools and gain a competitive
edge. By fostering agility, organizations can navigate future globally
significant events such as supply chain disruptions, rising interest rates,
pandemics, and recessions more effectively.
Q: How can Board International help businesses in planning
A: Board International is a leading provider of intelligent
planning solutions. Their platform enables organizations to plan smarter, gain
actionable insights, and achieve better outcomes. With their expertise and
technology, Board International has helped numerous global enterprises
digitally transform their planning processes. They offer a range of solutions
to address the challenges faced by businesses in planning transformation and
support organizations in navigating the era of continuous disruption.