The Forecast Module is a powerful tool designed to streamline financial forecasting and scenario planning. It enables you to manage forecast cycles, test various business assumptions, and ensure accurate, data-driven decision-making. With its advanced features and flexibility, the Forecast Module simplifies complex financial planning processes, saving you time while improving accuracy
Scenario Cycles
Definition: Scenario cycles represent specific forecast periods, such as "1+11" (1 month of actuals and 11 months of forecast) or "3+9" (3 months of actuals and 9 months of forecast).
Create New Scenario Cycles: Add a new scenario cycle either from scratch or by cloning an existing budget cycle.
Clone from Budget Cycle: When the Budget Module is enabled, you can import a budget cycle and use it as the foundation for a forecast cycle. This process copies all relevant Fileboxes, their latest versions, and aligns them with the selected Scenario Cycle and Planning Scenario for accurate organization. Use the "Mark this Scenario cycle as default" checkbox to make the new cycle your default.
Lock Scenario Cycles: Once finalized, a Scenario Cycle can be locked to prevent further changes. This ensures data consistency and disables any auto-calculation or file submissions within that cycle.
Roll Forward: Create an updated version of a forecast by rolling forward an existing Scenario Cycle. This action transitions the actual months to the new cycle and ensures accurate updates to the data.
Manage default: Define the default Scenario Cycle and Planning Scenario to streamline your workflow across Excel files and dashboards.
These defaults determine the data retrieved when no specific references are provided.
- Excel Files: If DR.GET functions or Excel tables do not include a reference to a specific Scenario Cycle or Filebox version, only data associated with the default Scenario Cycle and Planning Scenario will be displayed.
- Dashboards: Widgets without explicit references to the Scenario Cycle or Planning Scenario will show data linked to the default selections.
Use alternative fields:
Instead of the Scenario Cycle field, you can use equivalent fields such as System_forecast, System_date, or Scenario details to achieve the same results.
For the Planning Scenario field, you can replace it with the Scenario details field as an equivalent option.
Planning Scenarios
Use Planning scenarios like "Low," "Mid," and "Best" to test different business assumptions within the same scenario cycle. Ensure that each Planning scenario is mapped to the database to allow scenario analysis in your Excels and dashboards. In each Planning scenario, you will be able to perform the actions below:
Create new: Create new Planning scenario from scratch or by cloning existing Planning scenario.
Use the checkbox to define if the new Planning scenario will be defined as default or not:
Clone Planning scenario: You can clone your Planning scenario and create a new one out of it. For example: you can create “Mid” Planning scenario and then clone it as “Worst” Planning scenario. By changing the assumptions inside the models, you can get different results.
Lock Planning scenario: When you are satisfied with your Planning scenario, you can lock it to ensure that no additional version can be submitted to it.
Delete: If the Planning scenario is not defined as “default,” you can delete it. All the file linked to this Planning scenario will be archived. This action will not affect Planning scenarios in other Scenario cycles. In case where the Scenario cycle include only one planning scenario, it can be deleted.
File Management Features
Add new files: Upload forecast files directly from your computer.
File splitting: Split files for easier management, like the Budget Module. Read more about split files.
Online editing: Use Excel’s web-based tools to make changes and submit updates. This feature does not open for all – ask your CSM if you wish to use it.
Other options for files
For each file, users can:
- Upload a new to your file.
- Download the latest version of the file that is linked to the given Scenario cycle and Planning scenario.
- Share the file with other users. This option will share all the files version, so if you have also other Planning scenarios or Scenario cycles linked to the Filebox, the users get access to them too.
- Rename the Filebox. This also apply to other Scenario cycles and Planning scenarios exist in this Filebox.
- Archive
- Go to filebox: visit the filebox version page.
- Go to data mapper: visit the filebox data mapper.
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