The tax system, whether it be corporate or personal, is often a complex system that is based on rules-based accounting, which often has little to do with the actual health and well-being of the taxable entity.  

Forecasting with ML and deep learning allows you to justify budget allocations based on company performance, understand reasons for growth or decline, and plan for future growth. But how do we make sure we achieve these outcomes?

Is planning a routine annual exercise or a flexible and dynamic FP&A process that drives value and supports decision-making under uncertainty? How to achieve the latter?

The theme for this digest is FP&A Transformation – the adoption of an automated, fact-based approach to planning that facilitates faster, more agile decision-making. FP&A Transformation is about more than just the application of technology, though; it redefines processes and collaboration across many functions.

Changes in the FP&A framework are mainly driven by an increasing amount of data, innovations in technology and analytical methods.

  - What are the key steps to consider for moving your FP&A process to the next level?

So, the article described the methodology of creating a driver-based model on the example of an aviation company. It focused on the key steps and explained the different areas that need to be considered in order to successfully implement an automated, integrated driver-based model.
 

The International FP&A Board restarted face-to-face events, continuing our mission of learning the latest trends in FP&A through discussion and collaboration. The meeting of the Toronto FP&A Board discussed what lessons the pandemic has taught us. 

xP&A is more than moving the planning process outside of Finance. It completely transforms the organization's process, people and technology. Join the face-to-face Boston FP&A Board and discuss the evolution of financial planning and analysis (FP&A) to extended planning and analysis (xP&A). 

Join the Digital Middle Eastern FP&A Circle on September 26 at 5:00 PM GST to hear insights from senior practitioners and thought leaders about Digital FP&A and Deploying Artificial Intelligence (AI) and Machine Learning (ML) for Planning.

How do leading organisations create an intelligent Planning Process fit for a changing world? Join this webinar to get the answer to this question.