Gartner forecasted that by 2024, 70% of new financial planning and analysis projects (FP&A) will become extended planning and analysis (xP&A) projects, expanding their scope beyond the finance domain.
This article explores how financial services businesses can guide investments in Financial Planning and Analysis (FP&A) design. It also provides recommendations on how to do so wisely and thoughtfully, and not rush through projects, which may necessitate re-investment later and consume valuable resources at a critical time.
How to build FP&A Teams from scratch? How modern technology can enhance team collaboration? What are the latest trends and developments in FP&A employment?
How to make sure your top-down and bottom-up planning processes are harmonized beyond the finance function? Extended planning and analysis (xP&A) can be a solution.
Computer simulations allow us to play out various scenarios repeatedly and assess the outcomes. It is also true for computer simulations that are used in finance. Through scenario analysis, we can gain some comfort and assurance that the decision taken is the right one given the circumstances. However, there are a few considerations with the use of artificial intelligence (AI).
While automation has eliminated many repetitive tasks, the next step for FP&A is to develop advanced analytics capabilities.
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