Dear CFO, We heard that you put FP&A on your list of top priorities to work on. We understand that you’re not satisfied with the return on investment you’re getting from the department. You told us that there is too much data, reporting, and analysis and too few real insights that change decisions for the better. You also told ...
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Finance professionals generally tend to be risk averse. Transforming your FP&A plan will not be an easy task, but it must be addressed as it is a top priority for the CFO to better support delivering on the expectations from the CEO. In today’s world where technology changes are rampant and society’s expectations of new ideas and stimulation is ...
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The CFO has made FP&A a top priority as previously described, wanting significantly more value from the investments made in this function. To achieve this, FP&A must also do things differently otherwise we cannot expect different outcomes. To do something differently, new skills are needed. You could say we need to revolutionize the FP&A professional. The question is then into ...
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There has been a lot of talk about changing FP&A processes yet little real action in this area. Budgeting? How many do zero-based budgeting or pure beyond budgeting? Most are stuck doing the traditional one-year budget and five-year plan. Analysis? Wishful thinking. Are you doing what-if scenarios or Monte Carlo simulations or simply just plotting your data in a time ...
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Budgeting, Planning & Forecasting using Excel remains one of the most commonly used methods by FP&A professionals. As we mentioned in our first blog post on Planning in Excel, 80% of organizations reported in a recent survey* that they are still reliant on the tool. The demands on the Office of Finance to increase value across the organization continue to ...
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You do not have to be a data scientist to recognize the impact of technology on FP&A is and will continue to be significant. If you are still skeptical, have a look at a few blogs written by Lance Rubin where he disrupted his own role. One of the biggest challenges of automation (Robotic Process Automation) and artificial intelligence/machine learning ...
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