In COMMITLY, you can not only edit your liquidity planning but also “commit” it.
But what exactly does that mean, and why is it such a central part of working with COMMITLY?
Briefly explained:
When you commit, you confirm your current planning state as binding.
That means: This is what your planning looked like at that point in time.
A commit is usually made after a planning phase has been completed, e.g. after annual planning. The committed plan then remains fixed and serves as a reference point.
Why is this important?
Reliability: The commit documents which plan was valid at a given point in time.
Traceability: You can see developments at any time in comparison to your original planning.
Learning opportunity: Deviations between planning and reality make your next forecasts better.
Team and investor communication: Committing creates a clear and traceable basis for discussions.