2017 budgets might be locked and loaded at your company, but that does not mean that they need to be anchors on your company’s ability to anticipate, respond and react effectively to dynamic market conditions in 2017. Companies all sizes are upgrading from Excel and all its related headaches to leverage cost-effective cloud-based budgeting and planning solutions that fuel business agility by allowing companies to implement driver-based planning and forecasting.
There are many definitions of culture. From a business perspective I like the definition of culture as “the beliefs and behavior that determine how people interact and handle transactions.” I like this definition because it includes the word “transactions.” Transactions are unavoidable within businesses. Transactions occur when businesses sell their products or services. Transactions occur when businesses support their people and processes. As a result businesses need a culture that creates value from transactions.
By Irina Steenbeek, ABN AMRO Bank N.V. , Data management consultant
Why FP&A and Data management meet in the article?
Even if last six years I have been specialized in Data management, I still follow (thanks to FP&A club) developments in FP&A area. While reading some publications on FP&A trends I realized the strong connection between FP&A and Data management topics. So, I decided to share with you some of my observations and experiences.
By Christopher Andrew Heathcote, Finance business partner and FP&A Contractor,
A finance business partner acts as the bridge between the wider business and the financial leadership of the organisation. They work to unite the needs and demands of the group with those of the business with whom they partner, translating the financial strategy into a story they are able to identify and empathize with. They guide their business partners through the various financial constraints and perceived barriers to ensure their business units effectively and efficiently meet their strategic objectives.
As a thought leader in Strategic Finance for the past 15 years, I’ve seen companies greatly improve their Integrated Planning capabilities by adopting a well-defined Strategic Finance process.
When executed correctly, Strategic Finance is the linchpin between Strategic Planning and Budgeting. It helps organizations turn strategic thinking into reality by cascading thoughts and goals into measurable financial outcomes.
This article describes how to establish sustainable success in Strategic Finance, one step at a time.