Whether you are just getting started with your Business Planning & Consolidation (BPC) implementation or looking for improvements to your existing implementation, best practices are often simple concepts that improve user satisfaction and reduce chances for errors.
Issue: Untrustworthy Data
One of the most frustrating things for users when it comes to planning and forecasting is data that they cannot trust. I recall one example where, after publishing executive reports, an analyst realized that their prior forecast had unexpectedly changed. The bad data was an accidental result of input templates, logic, and security being open for a prior forecast. Fortunately, the data was recovered, but not before a costly loss of time and resources. The error was the result of many manual steps in a process where all steps had to be done in exactly the right order. Prior to the forecast, there was a change in personnel. Even though proper knowledge transfer was done, the error still occurred.