Managing a successful FP&A (Finance) department requires balancing the right blend of People, Processes and Technology.  Of course, this construct is nothing new, we’ve all heard this many times before.

Being a business partner will increase your scope and you will be more dependent on others. Learning to delegate, choosing the battles to fight for, saying no without compromising the relationship, continuing to expand your knowledge, surrounding yourself with the right people and supporting them would be the keys to success.

In this article, the author explores top 3 impacts of AI & ML on FP&A people, processes and value.

A budget is often a strategic anchor rather than a tool that facilitates effective decision making. Success in today’s world means innovative management models that release people from staffing bureaucracy and suffocating controls, and trusting them with information and empowering them to think, reflect, share, learn, and improve.

Bjarte Bogsnes, Senior Advisor Performance Framework at Statoil and Chairman at Beyond Budgeting Roundtable, shares how Statoil has embraced the Beyond Budgeting principles to develop an “Ambition to Action Model”. This model has allowed Statoil to completely redefine their performance management. The company developed their holistic performance evaluation programme and leveraged dynamic forecasting and resource allocation to eliminate traditional budgets and to empower event-driven decision-making process across the enterprise.

Business Partnering is what will make not only the FP&A team more successful but more importantly also improve the overall company performance. So, what’s stopping you from getting started right away?

In this article, I want to make the case for data-driven planning to describe the 7 key FP&A models that every organisation needs to plan, resource and monitor business performance. From a planning and review perspective, there are 7 key things that management needs to know about its business processes, each of which can be assessed in a range of analytical models.

Who is 2020 CFO?  The CFO’s are now moving from accounting to accountability and not just for financial performance, but also for customer centricity, cutting-edge technology, workforce excellence and fostering a high-performance culture. They are the number wizard, the generalist, the performance leader, and the growth champion.

The Hong Kong FP&A Board was launched on the 30^th of August 2018.

Senior FP&A leaders from HSBC, Adidas, Schneider Electric, Sony Pictures Entertainment, Estee Lauder Companies, PepsiCo and other companies attended the events to guide the development and promotion of better practices in global FP&A, identify, and support new trends, skillsets and innovations.

The speakers from Cartier, ITE Group, and others presented their insights and case studies.
 

For organisations looking to get the most out of their Driver based planning and Rolling Forecasting initiatives, it is critical to realise that these terms apply in both Strategic and Tactical planning. Yet the people, processes and technology applied to these two domains are quite unique.

The first Hong Kong FP&A Board will take place on 30 August 2018  to debate on the popular subject of the global trends in modern Financial Planning and Analytics (FP&A).