March 30, 2020
Reforecasting for Sudden Changes Using Adaptive Insights
Posted by Reena Driver
During these unpredictable times, you might have to switch around your normal processes. We’ve been hearing from our clients about the need to do quick forecasts in Adaptive Insights. Here are some step-by-step instructions with screen shots to show you reforecasting for Sudden Changes for your business.
- Roll Out a Live Forecast Version
- Confirm you are copying from the correct Original Budget Version.
- Select the boxes for: Copy All Data, Copy Formulas, Copy Splits, Copy Modeled Rows and Copy Audit Trail History.
- Update the Start of Plan setting to pull in Actuals through the prior month.
- Review the user access settings.
- Does this version need to be hidden for certain users?
- Update Input Sheets
- Review and update the Personnel Sheet for Headcount impact and updates to Personnel Assumptions (i.e. merit and bonus attainment assumptions).
- Review marketing, conference and event budgets — looking at the impact of cancelled events and tradeshows as it relates to both Revenue Pipeline and Operating Expenses.
- High-Level Adjustments: set up custom or assumption accounts to hold management increase/decrease % adjustments to incorporate into current modeled or cube formulas.
- Review Impact of New Forecast Version.
- Utilize Weekly Forecasting
- Always keep Live Forecast open as working forecast.
- At the start of each week, clone this version and rename the previous Live Forecast to [Date] – Flash and name the new version Live Forecast.
Reena Driver is a Manager on Armanino’s Adaptive Insights team.
As a Certified Adaptive Insights implementer, Reena has managed multiple 100+ hour implementation projects for companies in numerous industries including technology, nonprofit, real estate and higher education. She provides best practices for budgeting and forecasting alongside assistance with training, integrations and internal controls.