Integrated FP&A involves harmonising the three levels of planning - Strategic, Financial and Operational levels. This is done both horizontally (cross-functional) and vertically (top-down and bottom-up), using integrated processes, people and platforms that connect all parts of the business. The case studies presented some real-world examples of implementing and applying integrated FP&A.
In this uncertain, technology-driven world, we conducted a survey of global FP&A professionals to assess whether the work they do and the skill sets they employ are ‘good enough’.
Because of Covid 19, businesses have faced unprecedented and potentially life-threatening challenges. This has highlighted the importance of using FP&A Predictive Analytics to stay ahead of the curve and take corrective action on time. At the FP&A Webinar, the panel of three high-profile speakers discussed the challenges, lessons and benefits of Managing Uncertainty with FP&A Predictive Analytics.
Integrated FP&A is not a new term. Most experienced FP&A professionals are probably already subconsciously doing it. Integrated FP&A promotes the idea of collaborative planning where finance professionals work with different parts of the organisation to create a holistic view and plan.
There are many terms connected with FP&A, such as “unstructured analysis,” “predictive analytics,” and “machine learning". Often very little detail on how they can be used in everyday life. Sure, there is an odd example such as how the sales of one product in a supermarket are related to another based on their location. But what do these technologies actually do, and how can they help management in today’s fast-moving, complex business environment?
FP&A Predictive Analytics and Scenario Planning represent a truly powerful force for dealing with uncertainty, complexity, and risk. Watch the full recording of the UK&Ireland Board to learn more about the key factors that are needed for the successful implementation of Predictive Planning and Scenario Planning.