In this episode of the FP&A Trends Video Series, Fredrik Hedlund, Europe CFO at Nielsen, shares his insights on FP&A organisational transformation. Nielsen Europe completely transformed FP&A in 42 countries of Europe through implementing effective FP&A organisational structure.
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The mission of the International FP&A Board is to guide the development and promotion of best practices in global FP&A, identify and support new trends, skillsets and innovations.
On 16th March 2017 the second meeting of the Brussels FP&A Board, launched in November 2016, took place at the exclusive Business Club van Lotharingen in Brussels. It gathered 25 financial planning and analysis (FP&A) professionals from such companies as ING, J&J, Mastercard, to name but a few. As the mission of the International FP&A Board is to guide the development and promotion of best practices in global FP&A, identify and support new trends, skillsets and innovations, FP&A Analytical Transformation became the primary focus of the discussion in Brussels.
On 14th March 2017, the second meeting of the Amsterdam FP&A Board, launched in October 2016, took place in the Michael Page Office in World Trade Centre, Amsterdam. It gathered over 30 financial planning and analysis (FP&A) practitioners from such companies as ABN AMRO N.V., AkzoNobel, Cargill, Danone, Genpact, Microsoft Netherlands, and T-Mobile, to name a few. As the mission of the International FP&A Board is to guide the development and promotion of best practices in global FP&A, identify and support new trends, skillsets and innovations, FP&A Analytical Transformation became the primary focus of the discussion in Amsterdam.
We live in a modern, technological world where data, or more accurately insights from data, can drive competitive advantage. From identifying opportunities for optimisation and efficiency to generating a greater understanding of customers and prospects, it should be every company's aim to use their data to influence their decisions and future strategies to gain the advantage in their competitive market.
Machines thinking on their own present a number of anxieties in the workplace. Perhaps the most significant anxiety is the loss of work. Loss of work within factories is more than an anxiety, it is a reality.
On 11th May 2017 the Zurich FP&A Board gathered 36 senior finance practitioners from such leading local and global companies as Barry Callebaut, Cembra Money Bank, Citrix, Credit Suisse, Ecolab, EF Education First, GE, Gedeon Richter, MAN Diesel & Turbo, Medtronic, Quintiles IMS, Swissport, TE Connectivity, Xylem, etc. The important subject of Effective FP&A Organisational Structures became the main focus of the third FP&A Board meeting in Zurich.
Keeping your company at the forefront of its field means having the ability and confidence to make hard-fast decisions. Success depends heavily on making the right decisions and executing them with speed and efficiency, giving you a serious competitive advantage over the market. EY conducted a survey that revealed 81% of senior executives indicated they needed to improve their decision making speed and get greater insight on their business.
Some time ago, the FP&A Board in London saw members debate whether fancy business intelligence (BI) software tools are a wise or even necessary investment. The general consenus was that boardroom members often don’t want to see complicated graphs, instead preferring to see the numbers in a flat 2D table. “I’ve worked for a chief financial officer [CFO] who hated graphs,” said one senior FP&A professional. “As a finance person, he wanted numbers, not graphs. He even got his PA to print off a dynamic clickable dashboard I produced! A lot of a presentation depends upon who you are presenting to. I’ve certainly adapted my technique and tools depending upon who is listening.”
In this episode of the FP&A Trends Series, Toby Burton, CFO (Global Circulation) at The Economist Group and a member of the London FP&A Board, shares his insights on how FP&A helps to drive the profits of The Economist’s Circulation business. This is a great example of how flexible and dynamic FP&A can help organisations to succeed in such quick and competitive business environment.