We live in a world of uncertainty. But in that uncertainty, lies a great deal of opportunity for those organizations capable of successfully executing a winning plan.
Lately, I’ve noticed a significant uptick in the number of connections I have on LinkedIn who now list Strategic Finance as their primary job description.
Managing a successful FP&A (Finance) department requires balancing the right blend of People, Processes and Technology. Of course, this construct is nothing new, we’ve all heard this many times before.
For organizations looking to get the most out of their driver-based planning and rolling forecasting initiatives, it is critical to realize that these terms apply in both Strategic and Tactical planning. Yet the people, processes and technology applied to these two domains are quite unique.
The statistics reveal that 60%-90% of strategy implementations fail and only 14% of executives are satisfied with the execution of a strategy. Why do companies systematically fail to set meaningful and achievable targets that can help close the strategy gap? What should be the role of the FP&A in Strategic Planning?
How to establish sustainable success in Strategic Finance, one step at a time. When executed correctly, Strategic Finance is the linchpin between Strategic Planning and Budgeting. It helps organizations turn strategic thinking into reality by cascading thoughts and goals into measurable financial outcomes.