Leading executives, managers, and experts from SMBs and large enterprises share their insights and perspectives with bMighty on a host of IT issues, challenges, and opportunities that small and midsize businesses face.
You might think that today's economic uncertainties make planning a moot point. Bill Soward, president and CEO of Adaptive Planning -- which offers cloud-based, on-demand budgeting, forecasting, and reporting solutions -- says that kind of thinking is just asking for trouble.
Nobody saw the current economic crisis coming, at least not in its full ferocity. And now that it's here, it's tempting to throw up your hands and say it's impossible to figure out what's going to happen next. In fact, however, now is the time to redouble your company's planning efforts to be prepared for whatever happens.
To gain some insight into the best ways to do that, bMighty publisher and editor-in in-chief Fredric Paul talked with Bill Soward, president and CEO of Adaptive Planning, about how moving planning beyond cumbersome spreadsheet-based planning processes can help smaller companies better cope with uncertainty. First thing to remember? When times get tough, cash is king!
bMighty: What's the biggest challenge facing small and midsize companies right now?
Bill Soward: Right today, it's gotta be the economy. How to manage your business with so much uncertainty around. Some companies may actually be going backward instead of forward!
The next couple of quarters will be very difficult. And then what comes after that? Liquidity is very important. If ever there was a time for planning, it's now. And with all the uncertainty, that means not just Plan A, but also Plan B and Plan C.
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