What is % of forecast met in SAP EPM-SA - SAP Spend Performance Management?

SAP Term: % of forecast met

• Component: EPM-SA

• Component Name: SAP Spend Performance Management

• Description: Analysis to what degree forecasted spend amounts were met in percentage as compared with total spend

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• Key Concepts: 
  % of Forecast Met is a metric used in SAP Spend Performance Management (EPM-SA) to measure the accuracy of a forecast. It is calculated by dividing the actual spend by the forecasted spend and multiplying by 100. This metric provides an indication of how well the forecast was able to predict actual spend.
  
  How to use it: 
  To calculate % of Forecast Met, first determine the actual spend and the forecasted spend. Then divide the actual spend by the forecasted spend and multiply by 100. This will give you the % of Forecast Met.
  
  Tips & Tricks: 
  It is important to ensure that both the actual and forecasted spends are for the same time period in order to get an accurate calculation. Additionally, it is important to consider other factors such as inflation when making forecasts in order to get a more accurate prediction.
  
  Related Information: 
  The % of Forecast Met metric can be used in conjunction with other metrics such as variance analysis or cost savings analysis to gain a better understanding of how well a forecast was able to predict actual spend. Additionally, this metric can be used to compare different forecasts and determine which one was more accurate.