In the dynamic upstream business environment, top companies perform regular reforecasting to ensure that their performance is on track and that they will deliver on their promises to shareholders, employees and partners. They recognise that budgets and financial plans rarely last the entire fiscal year. Days or weeks after they are finalised, these plans may be discarded due to environmental changes. Yet in many organisations reforecasting is a significant challenge. Detail is often sacrificed in the quest to simply get the job done, and a significant manual effort is required to create even a high-level forecast.
Palantir can provide a solution. With Palantir you can have an integrated, dynamic planning process with frequent and accurate forecasts. Palantir enables you to quickly and easily update your budget and financial plans to precisely reflect the current business environment. By regularly reconciling your actuals with your forecast, you will gain new insights and your business plans will be built on the most accurate, up-to-date information available.
With Palantir you can:
- Centrally manage and instantly consolidate actuals and forecast data at any level of detail
- Reconcile differences between actuals and forecasts, and generate variance reports
- Reflect changes in key business assumptions such as oil price or exchange rate
- Create and compare multiple forecasts
- Generate rolling forecasts and gain a long-range perspective of your business
- Build and analyse financial reports such as Income Statements and Balance Sheets for multiple periods and versions