New technologies are reducing back-office workload, giving FP&A the opportunity to be more involved in running the business. Degree of this involvement depends on the capacity of FP&A team and the organisational culture.
The First Digital Swiss FP&A Board took place on September 8th, 2020. About 400 finance practitioners from over 30 countries registered for this online event where senior professional panelists provided their views on 5 facets of the “New Normal” FP&A.
Knowing your numbers is a good starting point for an FP&A professional. But it is also required to know how to present the findings to others.
When talking about performance, FP&A should be putting things into perspective by considering industry, competitors, consumer trends, legislation and the overall economy.
One of the advantages of working in the domain of FP&A is that it provides excellent opportunity to learn about many aspects of the business. This enables the individual to, not only do the job with a more solid ground, but to also get a better picture of what and how is done in the other departments. Additionally, working closely with colleagues from different functions increases one’s visibility in the organization. But how do you get started in FP&A?
There are different interpretations of FP&A business partnering. In my opinion, it represents a relationship between FP&A and other departments in which all of the parties involved professionally deliver what is required and provide support to each other, with the ultimate aim of creating value for the organisation. For the partnership to work in the long run, there should be a benefit for everyone involved. This is why it is important to have a clear idea about expected outcomes.
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New technologies are reducing back-office workload, giving FP&A the opportunity to be more involved in running the business. Degree of this involvement depends on the capacity of FP&A team and the organisational culture.
The First Digital Swiss FP&A Board took place on September 8th, 2020. About 400 finance practitioners from over 30 countries registered for this online event where senior professional panelists provided their views on 5 facets of the “New Normal” FP&A.
Knowing your numbers is a good starting point for an FP&A professional. But it is also required to know how to present the findings to others.
When talking about performance, FP&A should be putting things into perspective by considering industry, competitors, consumer trends, legislation and the overall economy.