To unite the firm on a single planning foundation, FP&A must adopt the planning frame that drives value for its customers. That platform is the Operational Budget (OB) and it brings many benefits to the firm.
Working in FP&A during a crisis is extremely challenging but it is also an opportunity to mature processes, reach a stage where FP&A can conduct organizational changes and become a real Business Partner. This article highlights three main areas for FP&A improvement.
The current COVID-19 disruption has led to a historical change requiring adaptability and increased visibility for CFO and the executive team. At the First Pan-Australian Digital FP&A Board, the panel of 7 high-profile speakers discussed how financial planning and analysis (FP&A) can adapt to the "New Normal".
In this article, I would like to summarise this insightful meeting filled with practical presentations, interactive polling questions and compelling discussions around the six facets of the “New Normal” FP&A.
Synergistic teams are built by understanding where people best fit into the team. The biggest drivers of productivity have always come when people have purpose and are allowed to be creative.
Defining exactly what Financial planning and analysis (FP&A) does has always been tough. Most people place FP&A in the Office of the CFO, and that makes sense, for many of us have certainly played the role of CFO a time or two, but as business partners, strategists and advisors, that is also not necessarily a perfect fit and as our roles continue to expand to become the central hub of corporate analytic and reporting this categorization may change.