FP&A departments are able to track and manage financial plans. But can FP&A help manage the execution of a strategic plan? Is there value in integrating these two processes?
Anyone working in the FP&A space knows intermittent disruptions such the COVID-19 epidemic are the just tip of the iceberg because, at some level or another, every business day is a ‘VUCA’ day and if you invest in building FP&A processes that prove their worth every working day then you’ll be better able to weather a crisis.
This article focuses on how the Operational Budget’s advanced analytics supports seven of the Beyond Budgeting Institute’s twelve principles and management processes.
A budget uses numbers to express thoughts which can be done broadly, narrowly, or both. How thoughts are expressed is important in a budget. If a budget is not impressed properly, it becomes irrelevant in many ways.