My aim in this article is to proffer suggestions for assembling members of an FP&A team. This is the team that will ensure an enterprise is resilient enough to navigate competitive threats, technology disruptions, regulatory effects, and can adapt to broad market dynamics in this 4th wave of the industrial revolution.
FP&A Insights is a collection of useful case studies from leading international companies and thought leadership insights from FP&A experts. We aim to help you keep track of the best practices in modern FP&A, recognise changes in the ever-evolving world of financial planning and analysis and be well equipped to deal with them.
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What is the first thought you have, when you see the above topic which I am going to discuss with you? Sounds confusing? How is it possible to have cost control yet have business initiatives and without the operations getting hurt? You are not alone if you believe so.
Running a company, among other things, requires dealing with ambiguity. How this is done depends on the people – some are more open to embrace the challenges, while others prefer to continue with the past practices, thinking that the change is not going to last. The behavior is not exclusive to a specific industry, it is primarily to do with the management style of people leading the company.
Generally, certified accountants have not had a reputation for deep involvement with operations, marketing, and sales management nor being a strategic advisor to their executive team, although articles by the media, consulting firms, and IT analysts have been claiming this is a trend and direction for them.