The role of FP&A is becoming more important than ever. FP&A is seen as instrumental in helping organisation formulate strategy and drive performance. However, how does FP&A function go about building its brand?

Without a doubt, the effects of AI on the global economy are jaw-dropping. But how does that affect the FP&A sector? Do we need to worry about the rise of artificial intelligence?  

The explosion in computing and data processing power has led to an exponential increase in data available to the business. Paradoxically, this has led to business leaders becoming more uncertain about what to do with this data. Hence, business is scrambling to put the appropriate “analytics” capability in place. This generates a lot of friction and tension because business leaders and managers, who have been brought up in a very different world, have to scramble to learn new languages and redress their relationship with data.

Integrated business planning (IBP) is not a new concept. Yet it’s still hard to find organisations that have fully embraced it, because their efforts have been hampered by the proliferation of legacy systems and data silos. IBP is characterised by aligned planning processes and calendars, full integration of cross-functional data, and cross-functional and business collaboration.