Among FP&A challenges understanding, explaining and forecasting revenues evolutions are one of the top items. It may be more or less difficult depending on the company business.

Digital transformation has created new opportunities. It's possible to generate insight from more sources of data, faster than ever before. But technological advances have also increased competitive pressure. How can FP&A teams adapt to these challenges and redefine their role in modern business? How can FP&A remain relevant in an organisation where everyone is an analyst?

Recently, I have encountered a lot of discussions within the finance (FP&A) professionals community about business partnering. The challenge in such discussions is to move from theoretical reasoning into practical execution.  In this article, I would like to talk about one possible area where cooperation between FP&A and Data management professionals can deliver mutually beneficial results.

Most large and medium-size companies are within ecosystems with increasing complexity and evolutions speed. Globalisation, regulations, technological changes, competitor moves, innovations, customer demands change and few others are the source of this increase in complexity and change speed.

In our earlier blogs we have discussed the role of data in your profession, your main benefits from proper managing of data, as well your main concerns about data. In this one I would like to give you a few practical tips on how to ensure getting the ‘right’ data.

Data management is a business function that, in my opinion, every company should have. Still, often it is not the case. Managing data means that everybody in a company knows what data they (can) get and have a good understanding of what can it can be used for. It also means receiving data when and where it is needed. And finally, producing and working with data of acceptable quality.