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?
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.
The Physics of Wall Street by James Owen Weatherall is an interesting story about the influence of physics in finance. FP&A practitioners can find material in this book to help them improve their work. For me three areas of the book serve as meaningful reference material.
By Thomas Lundell, Director FP&A at NetApp
For quite some time CFOs and the finance community have been talking about transforming the finance function, becoming better business partners and focusing on the value-add, strategic activities.
At the core of that transformation is FP&A, as activities like business planning, business unit strategy, investment allocation and predictive analytics become important to fulfil finance’s new, expanded position within the company.
On 14th March 2017 the second meeting of the Amsterdam FP&A Board, launched in October 2016, took place in the Michael Page Office in World Trade Centre, Amsterdam. It gathered over 30 financial planning and analysis (FP&A) practitioners from such companies as ABN AMRO N.V., AkzoNobel, Cargill, Danone, Genpact, Microsoft Netherlands, T-Mobile, to name but a few. As the mission of the International FP&A Board is to guide the development and promotion of best practices in global FP&A, identify and support new trends, skillsets and innovations, FP&A Analytical Transformation became the primary focus of the discussion in Amsterdam.