Palantir Solutions is a leading global provider of Integrated Dynamic Planning Solutions and Services to the upstream oil and gas industry.
Decision makers are able to gain greater visibility into their business and are empowered to make better, faster decisions.
What is Integrated, Dynamic Planning?
The goal of Integrated, Dynamic Planning is to eliminate the “top down” or “bottom up” planning processes typical of many organisations. Instead, systems are implemented to allow for more interaction between decision makers and the analysts providing the data. One-way planning workflows evolve and mature to be iterative, collaborative and responsive.
Integrated Planning refers to the centralisation of planning data and bringing budget, economic and financial planning processes more closely together. Conflicting data sources are eliminated and the resulting information and analyses are made accessible to all levels of the organization. The result is shortened submission cycles that allowing business plans to be assembled and altered in days rather than weeks.
Dynamic Planning allows for questions to be asked of the plan without having to repeat, resubmit or redo work. Sensitivities runs such as changes in price, foreign exchange or inflation can be applied to a plan without having to involve the entire organisation.
Advanced portfolio planning tools can investigate the effect of changes in the business environment may have on a plan. Strategies can be devised and tested in real time and implemented without disrupting the entire planning process.
Evolution of the Integrated, Dynamic Planning System
The implementation of an Integrated, Dynamic Planning System is a significant undertaking. It involves implementation of new systems, business processes and techniques. However these changes do not have to involve a revolutionary or whole sale change. In fact, in most cases, we guide our clients through an evolutionary process where the system is improved and modified one stage at a time. The stages of maturity are shown below:
Reporting only - One way information flow, reporting style planning
Feedback - One way information flow with some feedback or multiple iterations
Shared data - Centralised information allows consistent feedback and multiple iterations
Integrated Planning - Dedicated planning roles improve data quality and responsiveness of data
Integrated, Dynamic Planning - Feedback is continual and multi-directional; planning is real time
What are the benefits of Palantir’s Integrated, Dynamic Planning Solution?
Transparency – Information, data and analysis are made accessible to all levels of the organization. Fact based planning replaces intuitive decision making.
Responsiveness – Iterations of the business plan are faster to repeat, reproduce and revise.
Confidence – Decisions are made with greater confidence while implementing strategies that are measurable and achievable.
Collaboration – Ideas and insights are shared between the budget, finance, economics, corporate planning and reserves groups. Access expert information in your organisation more easily and unlock the true potential of the entire business.