Business users want the power of analytics – but analytics can only be as good as the data being analysed. A survey by TDWI has revealed best practices to improve data preparation, finding 76% of businesses hope to increase data-driven decision making and 37% are currently unequipped to do so. There are 5 signs that reveal the need for better data preparation.
Rolling Forecast is an essential tool for financial planning and analysis (FP&A), with a potential to radically transform corporates’ traditional budgeting process.
If implementing properly, the Rolling Forecast expands planning horizons, reduces planning cycles, and helps in executing organisational strategies. Companies will realise the Rolling Forecast's full potential only when they are ready to change. If it is not implemented with thought, it can become another non-value adding process, an expensive time-waster without benefit to the organisation.
This global webinar shared insights of the International FP&A Board on Latest Trends in Rolling Forecast.
Matthijs Schot, Head of Group FP&A at Maersk Group and a member of London FP&A Board gave an overview of his company’s experience on implementing Rolling Forecast and Going Beyond Budgeting.
This is the recording of the original global webinar that took place on the 15 August 2017.
By Emmanuel Jibodu, Sr. Analyst, Global Finance - Stericycle Inc.
"We are drowning in data but starving for actionable insight"
The Financial Planning & Analysis (FP&A) function has become more prominent in the decision making process in most large organizations because of the emergence of BIG DATA (large volumes of unstructured and structured data). Today, most companies have access to vast amounts of data (financial and operational) and must figure out how to use it to drive growth and profitability.
By Michael Fritz, Managing Director GRID Dynamics Inc.
Q: What do motorists, composers, musicians, architects, engineers, and builders have, that FP&A professionals don't?
A: Read on...
Standards exist everywhere. They make our lives easier by providing a common “language” which we use to improve communication, and quickly understand complex materials for rapid, informed decision-making.
By Christian FOURNIER, author of “Watch your FP&A processes”, “FP&A analytics and Simpson’s Paradox”, “Globalisation – adapter l’organisation de son entreprise face à la mondialisation”
Finance and FP&A communities are regularly traversed by theoretical and generally hot discussions concerning few topics that are at the heart of FP&A processes. Analytics systems, business partnering and budget are currently among of the main one.
Although this definitively permits to improve the FP&A impact and profile, we may be missing several aspects in those “vertical” discussions. Obviously, this is (more or less) relevant depending on company and market size and profile but still, it should be more present in the community discussions/thinking.