In this paper, we will explore these different areas to explain what they are, how they have benefited other organisations and the steps an organisation can take in making the transition.
In the current highly uncertain business environment, an xP&A business partner needs to be equipped with defined skills and competencies that bridge technical acumen, technology, and influence.
The new xP&A world is much more connected than before with the ability to assess the component of risk management, multiple scenarios, modulations, and simulations. All of them are integrated and require a much closer approach to the business intelligence range of new skillsets.
By gaining a deep understanding of the key performance drivers outside of finance, and by expanding its field of prescriptive action into all functions across the enterprise, FP&A can move the next level up and transform itself into an extended Finance & Analysis (xP&A) organisation. This article explores why many of us still think in silos and reasons why traditional business controlling should evolve into extended planning and analysis (xP&A).
It’s often been said that we’re in the agile phase of strategic thinking – the stage of strategic thought that focuses on flexibility in planning and rapid, quickly responding iterations - and it really can’t be emphasised enough just how important it is to build a responsive and agile FP&A strategy. It makes all the difference between an efficient and high-performing strategy and one that’s dead in the dust.