A plan, for an incompetent manager, is just an administrative task that needs to be completed to satisfy the boss and headquarters. Nothing else. There is no attempt to think about objectives, goals, roadmaps or any of the classic planning principles. For a boss this behaviour should be easy to detect, but if they are unaware of their inherent incompetence, then the incompetent managers will remain undetected.

In this volatile environment, implementing a flexible process and modern digital technology to manage change is increasingly important. No surprise the FP&A Transformation subject is high on companies’ agendas.

In this digest, we share research on digital transformation in the finance function, and a case study of how to establish a brand-new FP&A department. You will also find guides to the growing role of big data, and to designing data-driven planning architecture.

One of the biggest barriers for organisations to increase agility comes from unaligned top-down and bottom-up planning processes.

Integrated FP&A is not a new term. Most experienced FP&A professionals are probably already subconsciously doing it. Integrated FP&A promotes the idea of collaborative planning where finance professionals work with different parts of the organisation to create a holistic view and plan.

Although the world remains locked in battle with Covid-19, we are starting to emerge from survival mode and to consider our post-pandemic future. This means figuring out what's here to stay from the past 18 months, and what needs to change. One thing is certain, though: we are not going to continue where we left off in 2019 and 2020. 

In this uncertain business environment, organisations must strive to become more agile and data-driven. Developed by the International FP&A Board, the FP&A Maturity Model provides a roadmap for just such a transformation.

At the webinar on December 9th at 11:00 AM PST, you will hear from practitioners and thought leaders on rethinking traditional approaches to Cash Flow Management.

Watch the recording of the FP&A Trends Webinar to learn about the latest trends and developments in FP&A based on the global survey results.

It is unrealistic to link every activity. In some cases, you may only be able to present the work that has been done with no obvious mathematical link to the outcome or the performance measure it supports. However, there is still value in presenting a goal and the supporting work being done along with its cost, so at least management can make an informed judgment as to whether they are linked.

As technology keeps advancing, digitalising the FP&A function and integrating it across the organisation is not out of the reach for any company. The successful companies of tomorrow will thrive by implementing data-driven and digital planning processes.