PLEASANTON, Calif.- May 28, 2009 -Ventana Research today released the findings of its benchmark research on Integrated Business Planning (IBP), the first quantitative research to assess the maturity and direction of this emerging discipline for improved corporate planning. The research is significant because it offers insight into the bottom-line value to companies of improving their ability to respond quickly yet effectively to rapid shifts in today's demand-driven global economy as well as findings on how to do so.
This new research examined the interplay of technology, process and human factors in planning and found that comprehensive changes are needed in how companies plan and budget. Most companies are immature in their approach to business planning, the research found, and two-thirds of organizations are in need of substantial improvement in their planning effectiveness. Companies with more mature and more integrated planning processes are able to execute their strategy and business functions with greater coordination and effectiveness, while organizations that do not or cannot integrate detailed plan information from all departments or business units are much more likely to lack coordination in day-to-day business execution.
The research findings underscore the importance of using the right software to support planning. Companies that use dedicated planning applications execute their planning processes substantially better than those that rely on spreadsheets. Despite this, a majority of companies still rely on desktop spreadsheets for planning despite the fact that this and other research conducted by Ventana Research demonstrates they are not well suited to this task.
"Integrated business planning is a new approach to an old idea," said Robert Kugel, senior vice president of Ventana Research. "It is the process of connecting the planning function across an organization to improve its internal alignment and financial performance. IBP uses a comprehensive model of the organization that links strategic planning, operational planning and financial planning. With all plans and forward-looking assumptions linked across an enterprise, executives and other decision makers are able to evaluate plans more realistically, uncover inconsistencies and risks and assess opportunities."
Ventana Research conducted this benchmark research to determine the maturity of the corporate planning function, including elements of the process, the tools organizations use to support their processes, the information available to assist planning and the information that comes out of the planning process. From the benchmark and maturity assessment, Ventana Research has created a Maturity Index (VI) that provides an accurate method to assess an organization's maturity to the industry and steps for making improvement. The research benchmarked 324 qualified organizations with 100 or more employees operating in all major industries.
Ventana Research will detail the findings of this benchmark research in a live interactive webinar on June 11th at 11am Pacific time that will discuss the research findings and recommendations for improvement:
- Benefits and value of investing in Integrated Business Planning
- Key issues addressed by adopting IBP
- The role of information and technologies in achieving improvements
- What is required to improve planning in a typical corporation.
The research was sponsored by technology providers Blue Line Planning, Infor, Jonova and Oracle Corporation. The benchmark research was conducted with the assistance of media partners Penton Media/Business Finance Magazine, The Institute of Management Accountants and Intelligent Enterprise. Those interested in learning more about the benchmark research can find additional information at http://www.ventanaresearch.com/ibp. As a part of your registration you will receive insights and education from Ventana Research and will occasionally receive invitations to participate in relevant research.
About Ventana Research
Ventana Research is the leading benchmark research and advisory services firm. We provide expert guidance to help organizations manage and optimize performance - to become not only more efficient but more effective. Our unparalleled insights and best practices guidance are based on our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions worldwide. The combination we offer of benchmark research, rigorous market coverage and in-depth knowledge of hundreds of technology providers means we can deliver business and technology education and expertise to our clients where and when needed. Ventana Research provides the most comprehensive analyst coverage in the industry; more than 2.5 million business and IT professionals through our community of 85,000 professionals and network of media and association partners around the world benefit from Ventana Research's insights. Ventana Research focuses on business and technology trends and best practices that maximize organizations' potential to perform while reducing the time, cost and risk and still achieve optimal outcomes. To learn how Ventana Research advances the maturity of organizations use of information and technology through benchmark research, education and advisory services, visit www.ventanaresearch.com.
Media: Copies of benchmark research report and interviews are available upon request.
Media Contact: Marisela Reynoso
(925) 242-2579 marketing@ventanaresearch.com