In today’s fast-moving, unpredictable business environment, legacy planning practices can’t keep up. Often times, plans are already out of date before they even begin. It is impossible to predict events six months out, let alone 18 months for the traditional budgeting process. With modern financial planning and analysis solutions combined with newer management methodologies, these processes no longer need be time-bound. They can operate as a single management process where planning activities are triggered not by a date on the calendar but by events and exceptions. For all but small businesses, this requires a sophisticated automation capability that does not necessarily rely on human intervention.