To achieve FP&A transformation, organisations must master the soft dimensions that underpin the process and culture. This article emphasises the significance of leadership, functional roles, and Business Partnering as catalysts for FP&A transformation. By balancing soft and hard dimensions, organisations can effectively drive FP&A transformation and unlock their full potential.
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The FP&A Business Partnering Maturity Model, developed by the International FP&A Board, evaluates an organisation's maturity in six dimensions of FP&A Business Partnering and enables them to create a transformation plan. By assessing their approach, knowledge, influence, skills, analytics, and technology, organisations can improve their FP&A capabilities and drive strategic decision-making.
In this video, Luis Parra, Financial Executive - CFO (most recently with Scotiabank), speaks about what involves being a true Finance Business Partner and using external benchmarks and business drivers in the planning process.
In this video presentation, Autodesk’s Finance Director Valerie Martin offers insights on how to ascertain what you need from your data, overcome challenges and be a successful data-driven Business Partner.
As the finance co-pilot of your company, you won't get to call the shots on strategy, sales tactics, marketing campaigns, or HR policies. But you can be a finance business partner, providing data-driven insights to make sure your co-pilots are maximising their potential.