COVID-19 and potentially other black swan have taught us the importance of recruiting & having great synergistic team, ensuring their welfare, making sure we assess the skill sets required for the changing world and leveraging technology to ensure best performance.
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?
The meeting subject was “Building Winning FP&A Teams in the New Normal”, delivered by a truly international board panel of 5 members based in Australia, Malaysia, Singapore, and the UK. Below is a summary of what was discussed on the day including a summary of the polling questions and answers.
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).