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Michael Coveney has over 40 years of experience in designing and implementing software solutions that combine ‘best management practices’ with technology to improve the efficiency and effectiveness of planning, budgeting, forecasting and reporting processes.
Fortunately, an increasing number of organisations have come to embrace what IFP&A can offer. These people ‘step outside the box' and create solutions that are both innovative and that help management to improve organisational performance.
2021 has been the year of high uncertainty. But now that the year came to an end, we must ask the question: What are the top Financial Planning and Analysis trends to watch in 2022 and beyond?
Artificial Intelligence (AI) is one of those terms surrounded in mystery and which promises a lot. It’s also a term that is easy to misunderstand exactly what the promises are, particularly in reference to FP&A.
Traditional FP&A systems are typically focused on one aspect of the management process. For example, setting a budget, collecting a forecast, or delivering results in the form of a report pack.
Over the past 20 years, there have been concerted efforts to combine these processes into a single system – after all, what’s the point of a budget if you can’t report against it or collect a forecast to see if year-end goals are going to be achieved?
The FP&A Trends webinar will take place on 20 January 2022 to explore Top Trends Shaping FP&A in 2022 and Beyond.
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.
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.
The American economist and politician, Phil Gramm once said: “Balancing the budget is like going to heaven. Everybody wants to do it, but nobody wants to do what you have to do to get there.”
If these words ring true for you, this digest should help to point you in the right direction. With budgeting season upon us, we have decided to make this the theme of the issue.
For many organisations, the Strategy Gap is a major obstacle that systematically prevents businesses from truly maximising their Strategic Planning efforts and sustainably creating value for their organisation.