Financial institutions face challenges in budgeting and planning due to data access issues, poor data quality, and siloed practices. To overcome these obstacles, they should adopt connected planning methods, making budgeting, forecasting, and performance analysis continuous rather than isolated events. This approach improves efficiency and agility. Key steps for high performance include collecting accurate data, building comprehensive budgets and plans, monitoring results, driving profitability, and aligning incentives with strategy. Using a single planning tool can enhance collaboration, speed, and resilience, helping institutions make data-driven decisions in uncertain markets.

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