Organisations are operating in the world of ‘unknown unknowns’. As they strive to adapt, Financial Planning and Analysis (FP&A) has become increasingly important. FP&A teams must be agile and analytical. They have had to develop whole new ‘playbooks’ in order to overcome challenging changes, taking on roles that are not typical for traditional management accounting.

The Digital German FP&A Board will be held online on the 5th of October from 5:00 PM to 6:30 PM CEST to explore how to build Winning Financial Planning and Analysis (FP&A) Teams.

The key to modern FP&A teams is through empowered organisational governance, underlying a rich collaborative exchange of words, data and information.  This article explores how technology changed the way FP&A teams’ organisations in order to meet a more challenging landscape.

Despite the current circumstances of the COVID-19 epidemic, many FP&A teams have been able to adapt to the challenges and even become more effective during the crisis. Remote working or part-time working has led to more collaboration and is paving the way for new opportunities for both people and organisations. This article will describe the current FP&A challenges and the ways how FP&A teams can address them.

It’s often been said that we’re in the agile phase of strategic thinking – the stage of strategic thought that focuses on flexibility in planning and rapid, quickly responding iterations - and it really can’t be emphasised enough just how important it is to build a responsive and agile FP&A strategy. It makes all the difference between an efficient and high-performing strategy and one that’s dead in the dust.

Irrespective of the industry you work in, I am sure all of you would have noticed a huge change in the way your business operates in the last decade. You may have seen competition from previously unforeseen competitors, your CIOs talking about new digital ways of doing business and the utter lack of ready talent in your teams to manage this new challenge.