For the second time, we had meetings in three US cities — Chicago, San Francisco and Seattle. The discussions were devoted to the subject of FP&A Analytical Transformation.
Last month I attended the FP&A Board event in San Francisco focused on the latest advances in financial analytics. The event was well attended and composed of a main presentation punctuated by thoughtful audience discussions, group polls and comparisons to global statistics, a case study presentation, and small group break-away sessions.
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.
This is the second part of a three-part series that focuses on the business value that data science & analytics can provide to enterprises.
The next step of the Australian FP&A Board led us to meet in Melbourne with about 30 FP&A practitioners attending and debating about challenges, trends and best-practices in Financial Planning and Analysis. We would like to share some of the insights from the event in short summarized form. The topic of this board was “FP&A Analytical Transformation”.
Are your KPIs, Scoreboards and other metrics safe from the Simpson's paradox?