Today, the tools that are being offered are smart enough that with a few inputs and financial insight, you are able to achieve amazing results. No need to be a data scientist to deliver these results. In this article, we discuss Roche's FP&A transformation and how the company started with small experiments before going big.
Organisations are increasingly adopting data-driven approaches to decision-making. This is natural, given the amount of data we now have on hand. All-in-all, data-driven is now perceived as the right way to do business. If you're doing "data-driven decision making," you're doing it right. But are you really?
FP&A Transformation has been taking place for some time, with teams moving from the Traditional FP&A Model to the extended FP&A (xP&A) Model. This represents a move from scheduled to on-demand planning, from one scenario to multiple scenarios and from finance to entire company planning.
Does your organization’s strategy seem like a mystery or carefully guarded secret? Can it feel as if people's daily work doesn't relate to the direction where your business wants to go? Are people unable to access and understand your corporate goals easily? If you answered "Yes" to any of these scenarios, chances are that your organization is not as connected as it needs to be.
In this 7-minute presentation, Stefan Spiegel, CFO at Swiss Railway Freight Logistics (SBB Cargo AG), explains his company's journey towards merging finance and operations.
FP&A is no longer just a reactive part of an organisation. It has now become a very proactive partner in the business planning process. The modern FP&A is responsible for running multiple scenarios to equip the business decision-makers with a rich data set.