Using static budgets is not very useful for a company operating in a dynamic market. You’ll likely need to make interim adjustments and adapt your plans to the new reality. Depending on the predictability of the business, a rolling forecast can be set up for 3 months to 3 years. Each month, a new month is added into the future, ensuring a constant outlook for a fixed number of months ahead. The extent to which you can and should look ahead depends greatly on the industry.
A detailed report shows what has happened in the past period, while a rolling forecast ensures that you and your team look forward each month. Rolling forecasts use historical financial data, the latest market developments, and up-to-date insights into opportunities and risks.
With Smartbooks, you can report in detail on the past and also dynamically look ahead.