In this episode of the FP&A Trends Series Gary Cokins, recognised business analytics expert, author-president of Analytics-Based Performance Management LLC, shares his insights on forces that create modern FP&A. Learn about the key success factors that modern FP&A should take into consideration when embracing the analytical transformation journey.
For progressive and competitive organizations of all sizes, accessing smarter, leaner and faster information to drive a successful business strategy can only be achieved with real-time insights into their customer’s needs and buying behaviours.
Identifying and building ‘products of the future’, before you customers even realise the need, can mean the difference between long-term success and overnight failure – Nokia and RIM (Blackberry) are two examples of market leading companies who failed to prepare for the onset of handheld computing, Apple took the reverse approach, the rest is history.
Heuristics are rules of thumb. Psychologist Gerd Gigerenzer believes heuristics are a necessary part of an individual’s decision making process. Heuristics can be used in FP&A as a way to make decisions about how organizations earn revenues and incur expenses.
In this episode of the FP&A Trends Series Ramkumar Balasubramaniam, Head of FP&A and MI at Barclays Bank in the UAE and a member of Dubai FP&A Board, shares his thoughts on latest FP&A trends in the banking industry.
By Christian FOURNIER, Author (Globalisation - adapter l'organisation de son entreprise face à la mondialisation...)
Tools and processes used by finance and FP&A (commercial management, billing, accounting, operational statistics, competitive intelligence, planning, budget, forecast, variance analysis, reporting) needs to be customized in order to achieve both efficiency and relevance. There is nothing like on the shelf tools. Company’s industries, size, profile and positioning, geographic reach, product reach, etc. … constitute “forces” that needs to be understood in order to build a relevant and efficient set of tools.