According to the 2021 FP&A Trends Survey, only 12.5% of organisations spend 40% of their time on value-adding activities. Ironically, the feedback I am getting from my stakeholders is that our Business Partners have never needed us more than they need us today. Clearly, as an FP&A community, we all need to be taking action to empower, execute and become laser-focused on moving up the dial from 12.5% to ensure we can support and guide our Business Partners and show up as our best version.

At the recent FP&A Trends Webinar, senior finance professionals from diverse backgrounds and experience shared their views on the subject of Skills of the Future and How to Build Best-in-Class FP&A Teams.

Challenging market and rising costs put businesses into a non-stop race for efficiency and expense reduction. Cost management and identification of real expenditure sources in the production process are among the highest priorities for Financial Planning and Analysis (FP&A) and the entire finance department in almost every company.

The traditional budgeting process is short-term focused, causes unnecessary control and bureaucracy and results in a conflict of interest. For most present-day organisations, Traditional Budgeting is no longer fit for the task.