The International FP&A Board held its fourth event in Frankfurt in May. For the second time, we met in an amazing Regus property "Skyper Villa" to discuss the art and science of Driver-Based Planning (DBP).
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In April, we held the 5th Stockholm FP&A Board. The Board was debating about the Beyond Budgeting philosophy. 26 senior finance professionals, representing companies such as Electrolux, Ericsson, Roche, etc., shared their experience with dealing with the budgeting process.
The International FP&A Board has launched its 18th global and 5th North American chapter in Chicago, USA, on the 12th of April.
In April, the International FP&A Board successfully opened its 4th USA and 17th global chapter in Seattle, Washington.
This April, we have opened a new chapter of the International FP&A Board in San Francisco. This is our 16th chapter globally and the 3rd one in North America (after New York and Boston).
By Karl Kern, Accountant / Lecturer / Writer
Karl Kern has a BBA degree in Accounting from Temple University, and an MBA degree with a concentration in Finance from Babson College. After graduating from Temple University Karl started a career where he has established a reputation as a problem solver. Karl’s reputation as a problem solver is based on his ability to create as well as implement initiatives that have helped organizations increase revenues, decrease expenses, and improve cash flows.Prediction is an important work that FP&A practitioners do. This work has many challenges. One way to address these challenges is by maximizing the positive. There are three steps in maximizing the positive.
Although there are some substantial differences between Financial Modelling and Predictive Analytics, both help us cope with uncertainties and make better decisions.
The third New York FP&A Board was debating on FP&A Business Partnering this March. It happened just a day after the unexpected winter storm. Despite the harsh weather conditions and some related last minute cancellation, the meeting was well attended and was a great success. 20 senior finance professionals exchanged their knowledge and expertise. Each of them represented a company such as Avon, Siemens Healthineers, Sterling Talent Solutions and others.
Is it A New Era of Zero-Based Budgeting? The 19th London FP&A Board was actively debating on the subject this March. Zero-Based Budgeting is an old concept that evolved significantly in the last couple of years.
In a rapidly changing business environment, the traditional, out-dated budgeting mentality is being challenged more and more. While the process of moving away from a traditional budgeting mentality is painful and slow, it is happening around the globe. The question is, are we ready to abandon the traditional budget completely?