Planning tools are used to assist with planning in different functions. Typically, planning tools are used for financial planning (for example budgeting), production planning or supply chain planning. Forecasts and budgets can be created more effectively when using planning tools, e.g. by combining plans created by different employees or by automating parts of the planning process. Plans are created with a purpose. It is important to continuously monitor the deviation between the planned and the actual figures. This gives the possibility to react fast to potential deviations. It is also possible to automate this follow-up. It enables immediate deviation alerts so that required correction activities can be initiated immediately.

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Juuso Maijala, Analytics Expert