If done correctly, Strategic Finance can represent an immense value-add to your organization while at the same time, reduce the costly time and effort of the Budgeting process. Make a conscious effort to consider these seven essential tips and will see the benefits.
FP&A Insights
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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Considering forecasting as an exercise to assess future financial performance as accurately as possible through a bottom-up approach based on actual facts, it appears necessary for an Organisation to become conscious of its own culture.
By Karl Kern, Accountant / Lecturer / Writer
Making predictions is an important part of our work as FP&A practitioners. Its importance is due to need but need can be hindered due to incomplete knowledge.
One important skill finance professionals are never taught during their formal education is the power of personal engagement with operations and using these relationships to deliver bottom-line value. There is too much focus on models, processes, procedures and systems without regard to the fact that all these have to be developed, operated and interpreted by people.