The first Pan-Australian FP&A Board was held digitally as a response to the pandemic outbreak. This digital meeting was devoted to 6 facets of the New Normal FP&A including Scenario Planning, Cash Flow Planning, FP&A Team Building, Technology, Driver Based & Predictive Planning and FP&A Skills and Roles.
The current world is full of dead budgets and unrealistic forecasts, and FP&A teams need to adapt quickly to prepare for the future. At the first Digital Pan-Asian FP&A Board, senior finance practitioners from large organisations shared their insights on a variety of topics.
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.
There have been not many details about how to get started with a machine learning (ML) project in FP&A. This article will cover the financial forecasting process in companies and how ML can help with it.
Integrated business planning (IBP) is not a new concept. Yet it’s still hard to find organisations that have fully embraced it, because their efforts have been hampered by the proliferation of legacy systems and data silos. IBP is characterised by aligned planning processes and calendars, full integration of cross-functional data, and cross-functional and business collaboration.
This blog discusses the importance of improving your digital IQ, a term used by PWC for corporates but something that I believe should also be applied to individuals. Your digital IQ (your knowledge of technology and its impacts) is in effect a ‘gateway’ or an ‘enabler’ to the future role of any commercial finance/ FP&A individual.