An INSEAD MBA and entrepreneur Thorsteinn has over 20 years of experience in management, consulting and training. He is chairman of Ultima BV, a company specialized in developing driver-based planning and budgeting solutions. He also runs his own consultancy with a focus on improving business performance, using the Beyond Budgeting approach to planning and budgeting, and the Logical Thinking Process methodology for strategy formulation and improvement programs, both in consulting assignments and corporate training. Thorsteinn is a member of the Beyond Budgeting Roundtable and a certified expert in The Logical Thinking Process. The Logical Thinking Process was originally developed by Dr. Eliyahu M. Goldratt, author of bestselling business novel „The Goal“ and pioneer of modern production and process management, as a method to improve decision making in the corporate environment. The purpose of the Logical Thinking Process is to help people make better use of logic and the methods of the natural sciences to analyze complicated situations and formulate strategy.
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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How many people in your organization love the annual budgeting process? Probably none. The mere mention of the word "budget" raises eyebrows and evokes cynicism.
Many believe that one of the future roles of Finance, and FP&A, specifically, will be to provide real-time, data-driven decision support for the business. This will transform Finance from a mere ‘cost center’ to a ‘profit center’ function, raising its importance within the organization.
This is the second part of a three-part series that focuses on the business value that data science & analytics can provide to enterprises.
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