Why Good Data Matters for Planning

At our recent customer event we invited finance leaders to discuss some of the things that made their planning and reporting projects successful.

When month end takes longer than it should, as different teams arrive at different answers to the same question, or if forecasts need repeated reconciliation, confidence in the numbers inevitably start to wobble. When that happens, planning stops being strategic and becomes reactive.

When we hosted finance and data leaders in a panel at our recent Future Forum event, we heard that planning works best when the foundations are good. 

Here are five things that consistently make the difference.

1. Data quality and ownership come first

Most planning challenges don’t start in the model. They start much earlier, when no one is quite sure who owns the data, who defines it, or who is accountable when it’s wrong.

Without clear ownership, finance ends up compensating, by having to fix, reconcile or add explanations. Over time, that erodes trust and slows every planning cycle.

Clear ownership, agreed data definitions and shared responsibility for data accuracy are transformative.

“Most planning challenges don’t start in the model. They start much earlier, when nobody truly owns the data or feels accountable when it’s wrong.”

Raj Dadra, Former Group CFO, VCCP

2. Integration and governance keep the numbers aligned

As organisations grow, data naturally spreads across multiple ERP systems and source platforms. That is normal. What causes problems is when those sources are weakly integrated and poorly governed.

Strong integration ensures data flows cleanly into the planning environment. Governance ensures it is controlled, monitored and validated along the way.

Many organisations benefit from clearly separating globally owned data, locally owned data and data that is only relevant to specific teams. This brings structure without removing flexibility and gives finance far more confidence in the outputs.

“Poor data quality in one system doesn’t stay contained. Once it starts flowing into other systems, especially with automation or AI, the problem multiplies very quickly.”

Simon Short, Chief Data Officer, IMI Precision Engineering

3. Change and adoption matter as much as design

Even the best-designed planning solution will struggle if the business does not adopt it.

Cultural resistance is common, especially if users feel a project is being “done to them” rather than built with them. Involving business users early, explaining the value clearly and encouraging close collaboration between finance and IT makes a material difference.

Champions inside the business are often the deciding factor. They help reinforce new ways of working and keep momentum going when priorities shift.

“You need a champion in the business. Someone senior who can articulate the vision and keep driving it forward when priorities shift.”

Raj Dadra, Former Group CFO, VCCP

4. Iterative delivery builds trust and momentum

Organisations that deliver value early tend to maintain engagement. An MVP approach helps prove progress quickly, but it only works when there is a clear long-term vision behind it.

Transparency is critical. Regular playbacks, open communication and frequent check-ins keep stakeholders aligned and confident. Oversharing progress is rarely the issue. Silence usually is.

When teams can see steady progress and understand what comes next, trust builds naturally.

“MVPs matter, but only when they’re part of a clear roadmap. Speed without direction doesn’t build confidence.”

Raj Dadra, Former Group CFO, VCCP

5. Strategic alignment turns planning into impact

The most effective EPM initiatives are anchored to real business objectives. They set reasonable expectations, define measurable outcomes and secure executive sponsorship early.

Whether the aim is improved forecast accuracy, faster close cycles, reduced manual effort or stronger governance, clarity on outcomes keeps the programme focused and credible. It also ensures the solution supports both immediate needs and longer-term ambition.

“The most successful initiatives were the ones tied to real business outcomes, not just technical improvements.”

Simon Short, Chief Data Officer, IMI Precision Engineering

Where AI fits into all of this

New capabilities within Planning Analytics and watsonx BI are changing how finance teams interact with data. Natural language queries, automated insights, explainability and driver analysis remove friction and speed up understanding.

AI is not about replacing finance work. It is about reducing manual effort and helping teams focus on what is happening and why.

As with everything else, its value depends entirely on the quality of the data beneath it.

Where finance leaders should start

A practical starting point is to assess current finance and data maturity and identify where friction appears most often. From there, finance leaders can align critical metrics, strengthen integration with IT and prioritise improvements that reduce manual effort and build trust. Small, well-targeted changes often have the biggest impact. Try this finance maturity assessment to see where to start.

The takeaway

Accurate planning is impossible without accurate data. When data becomes trusted, consistent and explainable, planning cycles smooth out. Numbers gain credibility, teams gain time, and organisations gain confidence to make proactive decisions for growth.

This is where planning excellence really begins.