A study showed that organisations with high bonus payouts performed much better financially than those who did not pay high bonuses. This is why incentives can be seen as a financial tool to drive better performance.
Drivers are the catalysts to initiatives. But which ones are the most important? And how to deal with challenges that come with driver based planning?
Synergistic teams are built by understanding where people best fit into the team. The biggest drivers of productivity have always come when people have purpose and are allowed to be creative.
When talking about performance, FP&A should be putting things into perspective by considering industry, competitors, consumer trends, legislation and the overall economy.
In this article, we will explore the concepts of Zero-Based Budgeting and Zero-Based FP&A. The word “Budget” is not associated with flexibility and dynamics. Zero-Based Budgeting has started to be evolved to “Zero-Based Everything”:
Do you aspire to be the Chief Financial Officer of Google, Microsoft, Tesla or any other organization? I interviewed three Executives including two former CFOs to get their advice. These business leaders all spent several years in FP&A and credit this time as a critical experience in their ascent to the leadership positions that they eventually earned and thrived in.