Increasingly, FP&A’s most valued skill is turning data/facts into a story and putting these into context. However, there is generally too little focus on the actual art and science of storytelling, the primary tool in business partnering. This article on Storytelling will evolve around the three core elements of a good story – the narrative, visuals and data and cover how combining these allows FP&A to fulfil our goal in life of influencing change.
There are so many great stories to be told in FP&A in order to facilitate the decision-making process! How can we apply analytics, visualisation and dashboarding to FP&A Storytelling in order to enhance the fact-based decision-making process?
The role of the finance leader is changing. Before long, your colleagues may see you more as a journalist or storyteller — able to unearth critical facts, share a compelling narrative, and deliver the headlines that your decision-makers need today. But how's this possible?
Now, more than ever, the FP&A profession stands to propel itself forward as the premier business partner for Commercial and Operational teams. While FP&A content trending today may center around technological advances, the focus herein will instead shift to the bedrock principle that defines the FP&A profession: striking the proper balance between analytical depth and high-level storytelling.
On the 9th of March, Larysa Melnychuk hosted an inspiring webinar about FP&A Data Visualization: Moving from Insight to Impact where three senior professionals focused on discussing three pillars of FP&A storytelling.
Every month the Managing Director or Country Manager has to report the business results to the CEO or internal board. Depending on the corporate structure, there are different narrative reports, each with a different focus. This defines the role of Financial Planning and Analysis (FP&A) and the information that needs to be collected for future growth. Two opposite cases will make the same point.