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Figure 1: The International FP&A Board met in Brussels (October 2022)

In October 2022, the International FP&A Board restarted its face-to-face post-pandemic meeting in Brussels.

The main subject of the discussion was Reinventing FP&A: Key Lessons Learned from the Pandemic.

The International FP&A is grateful to Werner Van Dessel, Head of Finance, Technology Integration at LSEG, for being a great facilitator for the meeting.

The main lessons learned are:

• Finance practitioners find scenario management challenging, and hard to see the opportunity. People are struggling due to their various business models and the detail in which they have to run scenarios. A good solution can be to find the right balance and run at a higher level with fewer drivers.
   
• Inflation is hard to handle and lock into through contracts.
   
• The cost of tools came up as well as some companies run with low margins, so how do you start? Here the link was made to ‘data structure’, ‘and information models.
   
• Importance of ‘culture’ during and after COVID, primarily through hybrid working.
   
• The resource model and maturity model were appreciated and found very useful.

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Figure 2: The attendees of the Brussels FP&A Board (October 2022)

Agenda:

• FP&A for the “Next Normal” 
   
• Top lessons learned from the Pandemic
   
• Practical examples and case studies
   
• Small groups work
   
• Conclusions and recommendations

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Figure 3: A lively networking during the event
 

Vladimir Plotnikov, Group Business Controller at Eurofins Scientific, shared the presentation on "Four Lessons Learned from the Covid PCR Testing Activities”.

Our Sponsors

We would like to thank our global sponsors, SAP and Robert Half, for their support.