Business Partnering, the very essence of Financial Planning & Analysis (FP&A), continues to prove one of the most challenging aspects of the FP&A professional’s role. In simple terms, relationship building with Senior Management sometimes lacks the impetus required to empower the collaborative psychology an organisation needs to identify, facilitate and sustain growth.
A balmy Dubai evening welcomed almost 30 senior Finance and FP&A professionals from across the UAE to join the latest FP&A Board at the Intercontinental Dubai Marina hotel. The roundtable was the latest in a series of regional gatherings organised by Larysa Melnychuck (MD of the FP&A Trends Group) with the aim of guiding the development and promotion of best practices in FP&A. Three hours of insightful, hot discussion and debate centred around the reasons why business partnering continues to prove such an obstacle for FP&A folk and the organisations they work for.
By Niels Van Hove, Mental Toughness Coach & Supply Chain Consultant
Integrated Business Planning (IBP) is often seen as a natural progression from Sales and Operations Planning (S&OP), which came to life in the 80’s to align sales and operations. As S&OP found its origin in the supply chain, IBP is often biased with supply chain terminology and reasoning. It can be argued that current IBP development is still driven with a supply chain bias. With this lack of divers thinking, IBP innovation runs the risk of being not truly ‘integrated’.
A purpose of FP&A is to help people acquire insight into how organizations function. People acquire insight from a variety of sources; they can acquire insight by reading reports, talking to people, or walking through facilities. A reason people choose a certain source to acquire insight is accessibility and as a result FP&A practitioners should make their insight accessible.
By Steve Morlidge, Business Forecasting thought leader, author of "Future Ready: How to Master Business Forecasting" and "The Little Book of Beyond Budgeting"
The concept of ‘Beyond Budgeting’ has been around for nearly twenty years now. Although it has helped transform many businesses and has become part of mainstream management thinking in some parts of the world, I talk to many business people who have still not heard of Beyond Budgeting. And many of those that are aware of it find the concepts difficult to grasp.
By Emmanuel Jibodu, Sr. Analyst, Global Finance - Stericycle Inc.
The inspiration for this article stems from a recent conversation on a Financial Planning & Analysis (FP&A) LinkedIn group that I'm a member of. A highly regarded FP&A professional posited that we discuss the differences between the controllership function and FP&A. This post will highlight a couple of differences from an FP&A practitioner's perspective.