By Karl Kern, Founder/President, Kern Analytics LLC
FP&A practitioners rely on raw materials, i.e. data, to conduct their work. In order to conduct their work a variety of data types should be utilized. There are three types of data that FP&A practitioners should utilize.
By Steve Morlidge, Business Forecasting thought leader, author of "Future Ready: How to Master Business Forecasting" and "The Little Book of Beyond Budgeting"
In the last blog, I described how it is possible to implement Beyond Budgeting in a step-by-step fashion.
If you choose to go down this route you will become increasingly uncomfortably aware of a disconnect between Beyond Budgeting style processes and the rules and routines that govern normal business life in a traditional organisation.
By Larysa Melnychuk, Managing Director at FP&A Trends group
On 13th June 2017, 29 senior finance practitioners from such international and local companies as ABN AMRO, CRH, Diageo, Gemalto, Henkel, Ingram Micro, Naspers, PvH Europe, Regus, Sandoz, Staples Solutions, TIP Trailer Services, Vlisco, etc., gathered to interactively discuss Rolling Forecast Best Practices at the FP&A Board in Amsterdam.
by Michael Coveney, co-author of "Budgeting, Planning, and Forecasting in Uncertain Times"
Analytic models are rarely static. Their aim is to model the organisation in such a way as to allow managers to investigate what is actually going on and to assess changes to the way it operates. These changes may include looking at price/cost structures; the way in which departments are organised; partnerships; outsourcing; or introducing new products/services into new territories.
In each investigation, the model being used will evolve as new information is uncovered that impacts into what is being analysed.
By Steve Morlidge, Business Forecasting thought leader, author of "Future Ready: How to Master Business Forecasting" and "The Little Book of Beyond Budgeting"
In my last blog, I promised to give you some tips about how to introduce some Beyond Budgeting ideas into your business to help make it more flexible and reduce the gaming behaviour associated with the budgeting game.