This time the Dubai FP&A Board engaged in the discussion about FP&A analytical challenges and the ways to overcome them.
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The demand for Financial Planning & Analytics (FP&A) thought leadership and best practice establishment is very high.
The world of financial planning and analysis has observed changes of such magnitude that they cannot be described by our traditional statistical and analytical models.
In this article, Niels van Hove argues that while effective integrated FP&A can thrive in the right company culture, the FP&A process itself can influence and shape that culture. He calls for FP&A leaders to articulate goals that include clear expectations on behaviours. Doing so will not only improve effectiveness but also enable FP&A to play an active role in improving employee attitudes and satisfaction.
A move beyond traditional budgeting does not necessarily mean losing the budget. Rather, it’s important to reduce some of the traditional planning approach and taking a modern, flexible view of how to best remain agile and perform better.
Any business decision-making process requires both analytics and judgment. However, in the environment of black swans and perfect storms, the decision-making process needs to become more analytical.
There are three critical roles in every balanced FP&A Team: the Architect, the Analyst, the Story Teller. How balanced is your FP&A organisation?
The 19th London FP&A Board was debating about Zero Based Budgeting (“ZBB”). One of the key questions was if companies see a new Era for ZBB. The meeting was well attended and was a great success.
Key Performance Indicators (KPIs) are metrics that represent how various drivers of the business are performing. These drivers are often both financial and operational in nature. And while there is no one-size-fits-all when it comes to choosing the "right" metrics for your business it is critical that the data used be consistent and accurate.
FP&A establishes the foundation for thinking and learning about how processes affect outcomes. These actions can be guided by broad and narrow framing. In order for FP&A to add value toward these actions, it must take an active role in establishing a framework through the chart of accounts.