BOSTON–(BUSINESS WIRE)–#globalplanningsurvey—Board International has published its second annual Global Planning Survey. Based on insights from 1,500 business leaders across regions and industries, this survey reveals a strong focus on growth and the need to navigate complex markets through sophisticated planning strategies.
In 2023, enterprise organizations took steps to move beyond rapid-response global pandemic mode—systematically pursuing modernization initiatives such as upgrading business systems, process, and platforms. In 2024, with a new foundation in place, organizations were ready to build on these investments and accelerate growth—but the data shows a more nuanced picture of today’s business landscape.
Are businesses positioned for breakthroughs?
The Global Planning Survey revealed a significant gap between aspiration and reality. According to the survey, 78% of respondents believe their planning transformation attempts were successful in 2023. But despite this optimism, only 16% of businesses have achieved “the gold standard” of business planning: continuous agile planning.
Taking a closer look at areas where organizations reported they fall short on, the survey pinpointed 3 key challenges. 47% reported data challenges and the inability to operate without reliable, trusted data. Another 47% highlighted arduous, manual tasks that impeded agility and held organizations back. And 42% admitted that legacy planning tools could not handle the complex demands of sophisticated scenario planning.
Static spreadsheets are presenting a challenge
In addition, the Global Planning Survey found that more than half (55%) of those surveyed admitted still performing many planning processes in conventional spreadsheets like Excel. While spreadsheets have traditionally played a valuable role in planning, they fall short in their ability to perform complex scenario planning and effective collaboration, placing an artificial limit on what should be a broad range of potential future situations.
The survey data reinforces this point: 71% of companies report failing to consider enough potential scenarios as they plan for growth, leaving them vulnerable to unforeseen events.
Despite challenges, the path forward is promising
As an encouraging sign, companies recognize the limitations of spreadsheets and have begun embracing game-changing innovations including AI and tech-fueled agility. The survey found that 45% are exploring machine learning to improve decision-making, while 44% are looking to AI-powered business intelligence tools.
«Scenario planning is a critical tool for businesses to navigate an increasingly complex business landscape,” commented Jeff Casale, Board CEO. “However, traditional scenario planning methods can be time-consuming and resource intensive. It’s no surprise this is where AI is coming into play as a powerful enabler for future planning models and activities.«
By embracing AI and next-generation planning tools, companies can quickly model market scenarios and the potential impact of decisions—building out the best approaches to navigate unexpected shifts. This empowers leaders to enhance resilience, make data-driven decisions, and ultimately secure that all-important competitive advantage.
For more details on the Global Planning Survey ’24, visit: https://www.board.com/en/document/global-planning-survey-2024
About Board
Board Intelligent Planning solutions help over 2,000 organizations worldwide plan smarter, enable actionable insights, and achieve better outcomes. Industry leaders trust Board to unify strategy, finance, and operations through more integrated and intelligent planning, so they can take full control of performance. Partnering with Board, global companies such as H&M, BASF, Burberry, Coca-Cola, KPMG, and HSBC have transformed their planning processes to build a competitive edge.
Founded in 1994, and now with 25 offices worldwide, Board International is recognized by leading analysts including BARC, Gartner, and IDC.
Contacts
Victoire Depoix,
VP Global Communications
[email protected]