There are three key building blocks for modern Financial Planning and Analysis: Digital, Data and Analytics. What are these building blocks, and why do they matter from the FP&A perspectives?
The COVID-19 pandemic has forced many companies to revise their strategies and budgets in preparation for the "new normal". In times of such unprecedented uncertainty, complexity and risk, Scenario Planning and Predictive Planning processes came to the forefront of the management teams and FP&A professionals.
Whether it’s financial reports, management analysis or updates to financial processes and systems, Agile approaches are becoming more attractive for Finance teams. When adopted successfully, organisations see improvements in quality, speed of delivery, and overall customer satisfaction.
When your financial planning and analysis (FP&A) becomes data-driven using automation and an intuitive platform with the right tools, then there's a fundamental shift. The data flows freely, it's trustworthy, and it starts to work for you. In fact, it can lead to a transformation, especially with decision-making around your organisation's finances and business strategy. But how can you reach this point?
With a constant flow of urgent demands leaving little time to make changes, finance teams need practical advice on how to digitally transform FP&A. Join this upcoming event to discover the subject of the Roadmap for the Analytical Transformation of Controlling and FP&A Function.
The Digital European FP&A Board will be held on the 14th of October at 4:00 PM CEST.
The new xP&A world is much more connected than before with the ability to assess the component of risk management, multiple scenarios, modulations, and simulations. All of them are integrated and require a much closer approach to the business intelligence range of new skillsets.