In this episode of the FP&A Trends Series, Timo Wienefoet, MD at IMPLEXA GmbH , shares his view of the latest FP&A Trends in Germany. How does financial planning and analysis work in Europe's leading economy, Germany? What needs to be done for a good FP&A practitioner in the digital age?
On 20th April 2017, 20 FP&A professionals from such companies as Barclays, Coats, the Economist Group, Kraft Heinz, NetApp, Starbucks, Visa, etc., participated in the London FP&A Board meeting.
The main focus of the interactive discussion in London was Effective FP&A Team Building.
It is hardly arguable that there are so many requirements to a modern FP&A professional that are difficult to be met by one person, that building effective FP&A teams with complementary skills are seen as the easiest solution under the circumstances.
By Andrew Deichler, Editorial Manager at Association for Financial Professionals
NEW YORK -- About two dozen financial planning and analysis (FP&A) professionals gathered recently for the launch of the New York FP&A Board. The roundtable discussion began with a look at key FP&A trends, with much of the conversation focusing on how FP&A is becoming more strategic and influential across the organization.
By Stefan Spiegel, CFO SBB Cargo AG
Today's controller is confronted with two developments: On the one hand, an increasing usage of mobile applications for all employees, a steady growth of IT-supported operational resource planning systems and the hype towards Big Data result in an increasing volume of direct business information. On the other hand, more and more detailed accounting standards and higher requirements for compliance and governance enforce heavier control activities. In order not to miss the step into an effective business partnering and to be able to co-decide with line managers, however, a new form of tools based on IT developments should focus on business decision-making and deliver direct proposals for taking measures to line managers. It therefore requires new "decision-delivering" instruments as well as customized profiles for the future "Performance Manager".
Organisations are finding it increasingly hard to plan or predict future performance due to the fast pace and complexity engendered by today's global, online business environment. And yet, within the vast quantities of data. available to management, there are tell-tale trends and correlations that reveal valuable insights to the direction they should take to maximise results. This revealed knowledge is generally known as 'Business Intelligence' and are discovered through a range of analytic tools typically embedded within business applications for planning and reporting.
In the summer of 2016, the FP&A Trends Group were asked to undertake a survey of users as to the adoption of analytics and the impact it was having on the organisation. The survey was sponsored by prevero, a global provider of FP&A analytics technology. This paper outlines the results.