After her round of meetings with financial planning and analysis professionals across the globe, Larysa Melnychuk, managing director of the London FP&A Club, returned with plenty of stories and insights about the challenges they face. Here, Melnychuk reflected on the biggest obstacles FP&A professionals face, and possible solutions to overcome them.
By Neil Ainger, GTnews
Published first on http://www.gtnews.com and http://www.afponline.org/ in December 2013
The inaugural full meeting of the London FP&A Board confined itself to detailing the attributes required of an FP&A professional and the evening’s roundtable discussion produced a set of best practice recommendations detailing the necessary skills and mix of different personalities that should go into building a successful FP&A team.
In an interview to GTNews, Larysa Melnychuk, Managing Director at FP&A Trends group, shares her knowledge on the current state of Financial Planning and Analysis in different countries.
Although it is becoming commonplace to refer to financial planning and analysis as FP&A, this is actually an American term and one that is still not widely used outside of the US.
It is true that around the world, FP&A goes by many names.
The past 5 years have seen significant transformations in the FP&A world.
I have been fortunate enough to have travelled extensively and seen these changes. I observed many restructures, system implementations, analytical insights and innovations, redundancies, frustrations, deadlines… In other words- I saw a lot of changes in the FP&A World first-hand: both successful and painful. I met a lot of FP&A professionals – hard working, exciting, inspiring and often burned out.
At the beginning of this year, I want to share my list of the Top 5 FP&A Trends to watch in 2106.