Machine Learning provides tremendous insight regarding market trends & business drivers. These factors include market propensity, consumer demand, economic factors, weather, & transportation costs. Many companies take these variables into consideration but provide limited or time-consuming analysis. This process limits corporate agility.
A financial plan is a product used for guiding people’s actions toward the accumulation of wealth. As a product a financial plan is created from a variety of sources. One source used for creating a financial plan is finance.
There are several key components in the FP&A role. The way profitability is analysed and used to improve the business results is one of them.
Finance professionals can serve in a wide variety of areas within an organization. However, some of these areas have had high demands over the last few years, especially the demand for professionals with specific skill sets and experience in business and financial analysis, and data analytics.
Most recently, I have been observing significant changes in business models in many organisations around the globe.
Many FP&A Board members say the future can no longer be predicted based on only historical data since we are living in an environment of “Unknown Unknowns”.
One of my favorite sayings is – “if you say it enough times, it becomes true”. Within my organization, I’ve heard many sayings I know are simply not true that become believed.