Every month the Managing Director or Country Manager has to report the business results to the CEO or internal board. Depending on the corporate structure, there are different narrative reports, each with a different focus. This defines the role of Financial Planning and Analysis (FP&A) and the information that needs to be collected for future growth. Two opposite cases will make the same point.
University of Pennsylvania researchers report that the human retina processes data at approximately 10 million bits per second. That’s awfully fast compared to a typical adult reading rate of about 400 to 600 words per minute. There are many advantages to visualizing data, aside from speed.
Dashboards have become a powerful tool for FP&A to share insight and gain respect. In this article, the author shares his top 3 recommendations for improving the quality of your dashboards.
The FP&A professional’s part in leadership is vital and important to the decision-making process and direction of your business. Make it your mission to provide the most relevant data to your “customers.” Explain in non-finance terms, the results, implications, and impact of decisions. This is your area to own, so be cool, calm and collected, and communicate with confidence!