The world of financial planning and analysis has observed changes of such magnitude that they cannot be described by our traditional statistical and analytical models. In this age of frequent Black Swan events, the traditional business approach to operating on an annual budget and forecast is no longer effective. In order to deliver a competitive advantage to a company, modern FP&A function needs to be flexible and dynamic, be based on sophisticated analytics, examine life-time values of the products and services and encourage business partnering. This significant change in the role of FP&A function requires big cultural shift and modern change management techniques....
What is FP&A
By Neil Ainger, GTnews
Published first on http://www.gtnews.com and http://www.afponline.org/ in December 2013
The inaugural full meeting of the London FP&A Board confined itself to detailing the attributes required of an FP&A professional and the evening’s roundtable discussion produced a set of best practice recommendations detailing the necessary skills and mix of different personalities that should go into building a successful FP&A team.
In an interview to GTNews, Larysa Melnychuk, Managing Director at FP&A Trends group, shares her knowledge on the current state of Financial Planning and Analysis in different countries.
Although it is becoming commonplace to refer to financial planning and analysis as FP&A, this is actually an American term and one that is still not widely used outside of the US.
It is true that around the world, FP&A goes by many names.
The 3rd Geneva FP&A Board will take place on Tuesday 7th February 2017 and will discuss FP&A Analytical Transformation.
Demétrio Magalhães, Raízen Trading Finance Director, will share his company's analytical case on Matrix Budgeting Implementation.
Date: Tuesday, 7 February 2017
Time: 6-30pm to 9-30pm
Meeting Venue: Page Group Office (Michael Page, Page Personnel & Page Executive), Quai de la Poste 12, 1205 Genève, 4th floor
Fredrik Hedlund, Senior Vice President Finance, Nielsen
Fredrik has been the finance leader of Nielsen’s “Growth Group”, consisting of 19 countries across the globe, since April 2016. Prior to this role, he was the European finance leader of Nielsen for six years.
Prior to joining Nielsen, he was employed by the General Electric Company where he held several senior finance leadership positions across the globe. Fredrik is a veteran of GEs financial management program. He has 19 years of experience in various finance roles.
Fredrik is a graduate of the London School of Economics.
By Neil Ainger, GTnews
The search for a “single version of the truth” and how to “make FP&A a trusted business advisory unit to the boardroom … like an internal dynamic Harvard/MIT unit” were among key trends identified by the London FP&A Board.
Present at the latest meeting of the board, which has already produced best practice guidelines on insight management techniques, job skills and data, while endorsing an FP&A Club guide to technology, were Naomi Hill, chief financial officer (CFO) at IBM UK & Ireland and Hans Gobin FP&A director at specialist pharmaceuticals group Norgine.
Other contributors to the debate on current FP&A trends were Frederik Reynaert, head of financial planning and reporting at Scotch whisky distiller William Grant & Sons and Julie Brown, director of finance at Cafcass – the UK’s children and family court advisory and support service. She was joined by public sector colleagues and heads of finance at National Health Service (NHS) units Jay Mehta and Joseph McElligott.