How can you leverage Anaplan for effective Scenario Planning and Analysis?

We spoke to Iain Main, our Commercial Lead, about scenario planning and analysis in Anaplan. With over 10 years of experience in various finance roles, including Financial Reporting, FP&A, and Financial Management, Iain provides expert advice to our customers on harnessing the full potential of Anaplan.

Iain answers frequently asked questions about scenario planning and highlights the significant benefits Anaplan brings to companies, enabling them to make more informed and agile business decisions.

1. How flexible is Anaplan for running multiple scenarios?

When it comes to building and developing new scenarios – you can build a new one with a click of a button and get to work. We have customers that can build and develop new scenarios live in a meeting room setting. Time with decision makers is limited – being able to work with the numbers in real-time can transform decision making.

2. Can we easily compare different scenarios side by side?

You can build new and compare to other scenarios in real-time to help guide decision making. You can tailor dashboards to ensure you visualise the information in the way that works for you. I think that when you are working with scenario planning, you are helping navigate the unknown – there are always many possible outcomes. By working with scenarios in a side by side fashion, you can really start to understand drivers of your numbers in a new way. This hopefully leads to a more empowered approach to decision making!

3. Are there any built-in tools or templates for scenario planning and analysis?

We have templates that can be used, but it is important to understand that these can be customised to work in a way that helps you as a business. Every business is different, and there will always be nuances in how they work with information. By aligning your models and dashboards to fit your decision making process, you can amplify the impact you have with scenario planning.

4. Can we save and revisit different scenarios for future reference?

Yes. You can theoretically save as many scenarios (or versions) as you want. But be wary of saving down everything – otherwise you can get lost in the detail!

5. How does Anaplan handle complex modelling and forecasting scenarios?

We see companies handle scenario planning on a spectrum of complexity. From making simple top-down adjustments to model your scenarios, to cross-departmental models that model integrated operational and financial outcomes, Anaplan as a tool can really help transform the way you work with scenario planning.

But I will always advise that regardless of the level of complexity, it is important to make everything as simple as possible to understand – this will ensure you get more engagement, and hopefully better value from your scenario planning. Done well, it can transform decision making in a business!

You can also check out our other frequently asked questions for more information, including:

• Support and maintenance here
• Data driven decisions and streamline reporting here
• Save time and boost organisational efficiency here
• Increase collaboration whilst managing user access here
• Forecast accuracy and optimise performance here
• Data integration in Anaplan here