They say a picture is worth a thousand words… Telling a story is one of the most important tasks FP&A professionals are facing, and data visualization is a powerful tool to reveal stories. This tool can help filter out the noise and generate valuable business insights.
During the pandemic, we witnessed how quickly traditional budgeting and planning process become irrelevant. Traditional controlling does not work anymore. We need to ensure all our planning processes are integrated vertically and horizontally and ensure everyone that plans in the organisation work together.
In this article, I will share several challenges and dilemmas in building a strong FP&A department and also describe how they can be overcome. I‘ve gone through this process in 3 different companies as a Head of FP&A, so I can give my observation and say what are the crucial conditions to make the FP&A department successful and to minimise the ambiguity.
Networking; the mere mention of the word is enough to strike fear into the heart of many finance professionals. Perhaps we view it through a prism of insincerity; repeating to ourselves that finance is a technical role and hard work and ability will get me where I need to go.
High uncertainty was the other name for 2020, and FP&A's have been going through massive challenges and transformations to adjust to the New Normal. What are the top 10 Financial Planning and Analysis trends to watch in 2021 and beyond?
The Digital North American FP&A Board identified the top 10 trends shaping FP&A in 2021 and beyond. The discussion was led by an experienced panel of senior FP&A professionals from across multiple industries. This article summarizes all featured presentations.