Although FP&A professionals are good at analyzing past events, past performance does not predict the future. How can we make forecasts more influential?
An xP&A Business Partner needs to be equipped with defined skills and competencies that bridge technical acumen, technology, and influence. The latest technological advances have enhanced and transformed FP&A frameworks. xP&A Business Partnering is the latest trend that is going well beyond just Finance and involves the entire organisation.
FP&A function is changing rapidly together with our world. xP&A means “Extended Planning & Analysis” and is now slowly taking place of the traditional FP&A. FP&A Business Partnering Maturity Model as below is showing us three stages of different aspects of core FP&A competencies. xP&A is covered under the "Leading State" column.
Decisions make or break a business. Planning is the decision-making process that defines your future business performance.
In times of uncertainty, we found out that traditional business planning does not work very quickly. Budget and forecast become irrelevant whereas multidimensional and integrated scenario planning is a must-have. This is where you see the importance of the concept of xP&A.
Financial Planning & Analysis (FP&A) is increasing its scope and complexity in the current uncertain business environment. The Digital Nordic-Benelux FP&A Board brought together senior finance professionals across different industries to discuss how to move from Traditional Business Controlling to Extended Planning and Analysis (xP&A).