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”:
If FP&A professionals previously thought we had a tough job, the new reality of a very different world after COVID-19 will make our previous issues seem like a walk in the park. Where should we focus our efforts, and how can we provide the businesses with the best ways to move forward?
The COVID crisis is significantly challenging companies’ resilience i.e. their ability to face the crisis. It largely depends on their level of preparation. FP&A should keep a permanent assessment of this resilience and potentially promote plans to improve it. How can we do this?
How are you handling this mayhem? To better understand how to manage it, in this practical guide, we will look into four major dimensions.
Taking into account the current pandemic situation, what can FP&A do to establish the organization’s long-term financial and operational resilience? In this article, you will find a framework that could help you transform challenges into opportunities.
Traditional forecasts and plans typically use single-point estimates and metrics with little or no discussion of risks & opportunities (R&O), and without showing correlations among multiple R&O that could have a major impact on performance. R&O adjusted forecasting and planning is an approach to forecasting that generates a range of possible outcomes and probabilities based on an analysis of multiple variables of R&O.