The vision of xP&A — Extended Planning & Analysis — is to increase the frequency and accuracy of forecasting and incorporate both business and operational drivers into the planning function. To fulfill this vision, the methodology behind xP&A applies FP&A tools and related processes to additional departments within an organization, and links data, systems, and people both horizontally and vertically. This enables organizations to unify, integrate and align planning and forecasting activities throughout the entire value chain.
In April 2021, the Association for Financial Professionals® (AFP) conducted a survey to determine how far organizations’ finance functions have progressed on their journey to unify and automate their business planning and forecasting. The report covers all the insightful findings.