The third meeting of the Kuala Lumpur FP&A Board took place on Tuesday, 28th November 2017. The interactive discussion was devoted to the popular subject of FP&A Business Partnering.
The Meeting Agenda
- What is FP&A Business Partnering and why is it important?
- What are the most critical attributes of an FP&A business partner?
- Mini-case study from the field: Hyder Hasan, Global Operations Finance Director at PureCircle Limited, will share his insight on FP&A Business Partnering.
- The maturity model of FP&A business partnering. Basic / Intermediate / Advanced/ Leading Stage. Group work.
- Conclusions and recommendations
FP&A concept is very young in Malaysia: many companies still have the combined function and practice traditional methods of budgeting and planning. However, the discussion was very dynamic and interesting. Over 30 senior finance practitioners were discussing the evolution of FP&A Business Partnering. They represented different industries and companies, such as:
- Abbott Laboratories,
- Avon Cosmetics,
- JLT Asia,
- and many others.
The main conclusions from the meeting were the following:
- FP&A Business Partnering is a subset of Finance Business Partnering, but it is more strategic and influential in nature.
- FP&A Business Partnering breaks organizational silos, important for achieving an integrated planning process.
- It has two high-level objectives: to provide support and to challenge the status quo.
- Modern FP&A Business partners challenge the traditional judgemental planning partners with analytics.
- The modern flexible FP&A systems enhance business partner with analytical and collaborative tools.
- The analytical business culture that is created by modern FP&A Business partner is organizational IQ.