Today’s uncertain times mean that it is no longer good enough for organizations to have one fixed plan and forecast. Historic data by itself cannot help predict the future, nor can classical planning methods and standard variance analysis provide sufficient information to manage a business. It is time to change and adopt a fact-based mindset towards business decisions.

There has never been greater uncertainty and a faster pace of change than over the past months.

And yet, at a time that requires speed and agility, and in a function that needs these qualities more than others, we cleave to our traditional management accounting methods and adhere to our longstanding processes.

Watch the full recording of the FP&A Trends Webinar to look at the examples of Predictive Analytics in FP&A and understand how we can implement the process for the benefit of the whole organisation.

Financial planning and analysis (FP&A) functions are at the forefront of guiding organisation

As Einstein said, “In the middle of every difficulty lies opportunity.”  This survey we believe offers hope, insight, and a much-needed reality check on where FP&A is today.  It also forecasts what needs to happen for FP&A teams to develop their best practices from theory into reality. 

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’.