Predictive Budgeting and Forecasting Using Artificial Intelligence (AI).

Wednesday 4th September 2019 - 12:30pm - 1:15pm

Dial In Webinar

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During this webinar we will introduce how artificial intelligence (AI) can be used to further enhance forecasting models and the planning process. Using real-time data from S/4HANA Financials and the inbuilt predictive rules within SAP Analytics Cloud, we will demonstrate how Finance teams can make a prediction on what the plan should be, based on what has happened in the actuals.

This complete finance transformation to seed a forecast or budget can streamline the planning process and remove the need to send out input requests. With a live demonstration, we will adopt prediction and AI to show the new budgeting process that starts by using insight based on the previous month’s real-world data. This has the added advantage of allowing the finance team to make minor tweaks to the budget which can result in a quicker budgeting process.

How far could you go with AI? With the predictive algorithms working across live data and the report extrapolating what has happened, there could be an argument for removing the need for any data input at all. This allows for many scenarios that could result in the Finance team restricting data input to purely volatile or cyclical activities whereas other flat, standard activities could be predicted. We will explain 3 such scenarios and introduce a little controversy with thought-provoking commentary to decide which budgeting framework would be appropriate for your organisation.

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