Skip to main content
Home
The Online Resource for Modern FP&A Professionals
Please register to receive the latest FP&A news, updates and tips Login

Main menu

  • Home
  • FP&A Insights
    • FP&A Trends Digest
    • FP&A Trends Research
    • FP&A Trends Insight Paper
    • FP&A Trends Survey
    • Short Videos
    • Our Contributors
  • FP&A Events
    • International FP&A Board
    • FP&A Trends Webinars
    • Digital FP&A Circles
  • AI/ML Committee
    • Introduction
    • Members
    • Resources
    • Meetings
  • FP&A Tools
    • FP&A Trends Maturity Model
  • About Us
    • Company Policy
    • Privacy Policy
    • Editorial Guidelines
    • Our Ambassadors
    • Our Sponsors & Partners
    • Contact Us
image

FP&A Week: Breaking the Paradox

October 10-13, 2023

Register now

 

 

 

5 Skills That Make xP&A Work
June 2, 2021

By Bryan Lapidus, Director, FP&A Practice at the Association for Financial Professionals (AFP)

FP&A Tags
Extended Planning & Analysis (xP&A)
Integrated FP&A
FP&A Skills

skillsThink about a cat video. 

Well, really, I want you to think about how the internet works, but everybody loves a cat video, so let's think about how you end up watching a cat video on your screen. A piece of work is created, in this case, a video, then it follows a series of transmissions across various networks — digital networks, networks of people and organizations, and connected data sources. 

From this example, you can see how work gets done: a requirement for work is defined and disseminated across collaborative and fluid teams, where it is altered, improved, and acted upon to drive more action. This process is called integrative intelligence, and for xP&A to be implemented effectively, it requires key elements of an integrative intelligence framework. 

xP&A is extended planning and analysis, a term coined by Gartner to explain the technology that allows distributed inputs from the business units, algorithms and edge systems directly into the planning function. Information is dispersed, requiring a different set of skills to integrate the information. 

Here are five ways you can apply the structure of integrative intelligence to your xP&A process. 

Define shared value

Your challenge as a finance professional is to create a common focus for everyone who has a hand in the xP&A ecosystem. For example, budgeting and forecasting may not be popular processes but they are essential. If we are going to distribute ownership of key elements of a finance process, we need to define the work to be done and ensure they understand the value it can create.

To do that, we need to recognize that diverse members of our team have different time horizons, report to different bosses, and are bonused on different activities. We need to relate this back to them — create the context for them to understand what's in it for them and the broader company benefits.

Build with modularity

When we build out xP&A, we need to think about doing it unit by unit to build the mechanisms, steps and calculations they are going to follow. This is a tremendous opportunity to create standardization around the enterprise of metrics, metric definitions, metric calculations, sources and uses of data, but it will require focused effort to build that alignment.

In addition, modularity in design should allow us to differentiate among the sectors. We can start and stop different parts of a process selectively, perhaps running an algorithm on some GL lines every day or multiple times per day, or having periodic updates of manual inputs for discretionary items, or selecting revenue-based versus expense-based planning elements to run or scrutinize.

Expand your view of the team

xP&A focuses on who is providing the information. It could be other business partners such as marketing, supply chain, call center, or research and development. It could be other parts of finance, treasury, or accounting. It could be automated algorithms that create naive forecasts that will automatically create trends and predictive analytics. It could be non-employees, such as vendors, who have an API interface into our systems, or third-party gig and freelancers who are sitting right alongside of us.

All this will happen with remote teams that are physically distributed around the world. Increasingly, we need to think about algorithms and “bots” as members of the team, and how to manage them. 

Develop project management skills 

The logical extension of working with other people is the need to enhance our project management skills. This is not glamorous work, but it is leadership. Distributing work requires creating the cadence of operations such as how does this group communicate, where and how is information stored, when do we access it, how do we update each other, and how are decisions made. These core project management skills are going to be more vital in an xP&A world.

Provide effective challenge

If xP&A works right, some of that time we spend — the burden of gathering and preparing data — should come back to us. The offset of gaining time is that finance needs to scrutinize the results very carefully. What a tremendous opportunity to spend more time analyzing projections, looking at competitive benchmarks and considering macro-economic impacts. As business partners, we challenge the assumptions, ask tough questions, and push for data-driven answers. 

xP&A is more than a technology installation, it is a vision of a technology-enabled finance organization. It offers a refreshing way to think about what the work is that finance is trying to accomplish, and how we get it done. Seizing this opportunity requires us to apply all of our FP&A skills — financial acumen and personal, plus team effectiveness, in addition to technology and data. The framework of integrative intelligence is designed for this. 

 

Register for the complimentary event, AFP FinNext Asia, created exclusively for FP&A professionals and taking place virtually 15-17 June 2021.
 

The full text is available for registered users. Please register to view the rest of the article.
  • Log In
  • or
  • Register

Related articles

skills
The Top 8 Skills for FP&A Professionals
October 1, 2020

What are the skills needed for a successful career in FP&A? The business environment is changing...

Read more
human skills
Renew Your Six Human Skills for the “New Normal” FP&A
September 10, 2020

To shine in the digital era and to be truly successful, financial planning and analysis (FP&A)...

Read more
partnering
4 Key Steps to Become a Trusted FP&A Business Partner
April 28, 2021

Every FP&A professional has an active role to play in business partnering, supporting the leadership team...

Read more
Hiring
Hiring in FP&A: How to Get the Best People on Board
December 9, 2020

Throughout my career, I have interviewed hundreds of candidates for dozens of roles, most of which...

Read more
Decision-Making Process
Fair Analytics: Upgrade Your Decision-Making Process
November 11, 2020

The quality of a decision is a question about what data or lack of data the...

Read more
+

Subscribe to
FP&A Trends Digest

We will regularly update you on the latest trends and developments in FP&A. Take the opportunity to have articles written by finance thought leaders delivered directly to your inbox; watch compelling webinars; connect with like-minded professionals; and become a part of our global community.

Create new account

image

The FP&A Trends Webinar: Navigating Intelligent Transformation with FP&A Trends Maturity Model

Click here to view details and register

 

 

 

 

Pagination

  • ‹‹ Previous
  • September 2023
  • Next ››
Su Mo Tu We Th Fr Sa
27
28
29
30
31
1
2
 
 
 
 
 
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Moving from FP&A to Extended Planning and Analysis (xP&A)
 
Moving from FP&A to Extended Planning and Analysis (xP&A)
 
24
25
26
27
28
29
30
Creating Your Transformation Map with the FP&A Trends Maturity Model
 
Using AI to Enhance Your Predictive Planning and Forecasting
 
All events for the year
Data and Analytics
Data & Analytics
FP&A Case Studies
FP&A Case Studies
FP&A Research
FP&A Research
General
General
Integrated FP&A
Integrated FP&A
People and Culture
People and Culture
Process
Process
Technology
Technology

Future Meetings

The Face-to-Face London FP&A Board
The Face-to-Face London FP&A Board Creating Your Transformation Map with the FP&A Trends Maturity Model
September 27, 2023
The FP&A Trends Webinar
The FP&A Trends Webinar Using AI to Enhance Your Predictive Planning and Forecasting
September 28, 2023
The Power of AI and Human Intelligence in FP&A
The FP&A Trends Webinar Empowered Decision-making: Human-Led, AI-Backed Intelligence in FP&A
October 4, 2023
The Face-to-Face Amsterdam FP&A Board
The Face-to-Face Amsterdam FP&A Board Five Critical Roles for Building a World-Class FP&A Team
October 5, 2023
ZBB
The FP&A Trends Webinar A New Age of Zero-Based Budgeting
October 10, 2023
The FP&A Trends Webinar
The FP&A Trends Webinar Navigating Intelligent Transformation with FP&A Trends Maturity Model
October 11, 2023
The Face-to-Face New York FP&A Board
The Face-to-Face New York FP&A Board FP&A Storytelling in a Data-Driven World
October 12, 2023
The Face-to-Face Toronto FP&A Board
The Face-to-Face Toronto FP&A Board FP&A Storytelling in a Data-Driven World
October 17, 2023
Value Adding FP&A
The FP&A Trends Webinar Mastering the Art and Science of Value Adding FP&A
October 18, 2023
FP&A Storytelling in a Data-Driven World
The Face-to-Face San Francisco FP&A Board FP&A Storytelling in a Data-Driven World
October 19, 2023
The Face-to-Face Seattle FP&A Board: FP&A Storytelling in a Data-Driven World
The Face-to-Face Seattle FP&A Board FP&A Storytelling in a Data-Driven World
October 24, 2023
The Face-to-Face Boston FP&A Board
The Face-to-Face Boston FP&A Board Creating Your Transformation Map with the FP&A Board Maturity Model
October 26, 2023
Geneva FP&A Board
The Face-to-Face Geneva FP&A Board FP&A Storytelling in a Data-Driven World
November 7, 2023
Continuous Planning
The FP&A Trends Webinar Real-Time and Continuous Planning: What Does It Involve
November 8, 2023
Zurich FP&A Board
The Face-to-Face Zurich FP&A Board FP&A Storytelling in a Data-Driven World
November 9, 2023
The Face-to-Face Munich FP&A Board
The Face-to-Face Munich FP&A Board Moving from FP&A to Extended Planning and Analysis (xP&A)
November 14, 2023
Helsinki
The Launch of the Face-to-Face Helsinki FP&A Board Modern Financial Planning and Analysis (FP&A): Latest Trends and Developments
November 16, 2023
From Insights to Impact: Unveiling the Potential of FP&A Scenario Management
The FP&A Trends Webinar From Insights to Impact: Unveiling the Potential of FP&A Scenario Management
November 22, 2023
The Launch of the Face-to-Face Riyadh FP&A Board
The Launch of the Face-to-Face Riyadh FP&A Board Modern Financial Planning and Analysis (FP&A): Latest Trends and Developments
November 27, 2023

Please register to receive the latest FP&A news, updates and tips.

info@fpa-trends.com​

              

Foot menu

  • FP&A Insights
  • FP&A Board
  • FP&A Videos

Footer countries

  • Amsterdam
  • Austin
  • Boston
  • Brisbane
  • Brussels
  • Chicago
  • Copenhagen
  • Dubai
  • Frankfurt
  • Geneva
  • Hong Kong
  • Houston
  • Kuala Lumpur
  • London Board
  • London(Circle)
  • Melbourne
  • Miami
  • Munich
  • New-York
  • Paris
  • Perth
  • San Francisco
  • Seattle
  • Shanghai
  • Singapore
  • Stockholm
  • Sydney
  • Tokyo
  • Toronto
  • Washington D.C.
  • Zurich

Copyright © 2023 fpa-trends.com. All rights reserved.

0