These are exciting times for finance. The promise of technology for a sneak peek into the future gives finance a crystal ball on where to steer resources today for an optimal utilization tomorrow. Can the Arabic proverb “he who knows the future lies even if he is proven correct” be overcome?
Timo Wienefoet
Timo Wienefoet has 20 years of unique cross-functional experience centered around Controlling/ FP&A and technology. His academic background includes diplomas (M.Sc.) in Information Systems and Finance and teaching Business and Statistics in executive education.
Business roles included two successful exits as a founder, eight years management team responsibility for regional internal controlling & planning systems at Atos and today responsibility for the planning business in Central Europe for kainos. As the first German speaking certified Corporate FP&A Professional his interest is especially on the people aspects of coordinating future performance.
Author's Articles
Future coordination is a brainer - not a no-brainer. Combining the Now and the Future requires a well-prepared FP&A team. AI as Robotic Process Automation (RPA) can support with the “no-brainers”. Looking ahead requires diligence and thinking time, which RPA can provide space for. Also, computer algorithms prescribe to keep exploring for future gains. This includes looking to the Arts and the Artificial Intelligence developments.
The dusk of Management Taylorism is the dawn for the strategic CxO. Constant cooperation, communication and deep business process knowledge are the answer to digitalization, data lakes and disruptive threats. The opportunity for Finance is to extend resource allocation and financial planning towards becoming the trusted strategic advisor beyond the mere financials. How can FP&A support this achievement?
No matter for a budget season or continuous forecasting: the human factor is randomly covered in the process that may bring the best and the worst of management culture. A special eye on bias during the Performance Management and goal setting process is essential for process quality and to the FP&A skillset.