We live in a world of uncertainty. But in that uncertainty lies a great deal of opportunity for those organisations capable of successfully executing a winning plan. 

Lately, I’ve noticed a significant uptick in the number of connections I have on LinkedIn who now list Strategic Finance as their primary job description.

Managing a successful FP&A (Finance) department requires balancing the right blend of People, Processes and Technology.  Of course, this construct is nothing new, we’ve all heard this many times before.

For organisations looking to get the most out of their Driver based planning and Rolling Forecasting initiatives, it is critical to realise that these terms apply in both Strategic and Tactical planning. Yet the people, processes and technology applied to these two domains are quite unique.

The cost of complexity can be significant – upwards of 5% of sales in global organizations. Forward-thinking FP&A leaders can play a significant role in realizing this value by leveraging technology innovations that support fully integrated P&PM processes.

If done correctly, Strategic Finance can represent an immense value-add to your organization while at the same time, reduce the costly time and effort of the Budgeting process.   Make a conscious effort to consider these seven essential tips and will see the benefits.