Is Beyond Budgeting the best alternative? Join the Digital Nordic FP&A Board on the 12th of May to get the answer to this question.

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

The International FP&A Board now restarts face-to-face events, continuing our mission of learning the latest trends in FP&A through discussion and collaboration. The first meeting of the London FP&A Board will discuss what lessons the pandemic has taught us. 
 

In the last couple of years, we have seen the business world turn upside down and organisations confronted with an ever-changing and dynamic environment. The traditional budgeting process is long obsolete. With most Organisations are not ready to abandon their traditional budgeting, Zero Based Budgeting is definitely a great way of improving and keeping the traditional budget relevant.

For many organisations, the Strategy Gap is a major obstacle, preventing them from truly maximizing their Strategic Planning efforts and sustainably creating value.

Budgeting and planning activities within companies are often time-consuming and quickly outdated in their significance. Methods like driver-based planning or even Beyond Budgeting represent attempts to increase efficiency, but the approach remains old-fashioned. However, the developments in the field of AI/ML are now opening up completely new possibilities. In the near future, it will be possible to calculate and compare a wide variety of planning scenarios within minutes.

In this issue, you will also find the results of FP&A Trends survey 2021 into planning and forecasting methods; an article about successfully implementing agile approaches; a guide to the benefits of FP&A integration; and a video exploring the skills FP&A teams need in uncertain times.

FP&A is getting more and more relevant in the organisations as a key role to support the strategy and decision making. This article covers the main skills FP&A professionals should develop to succeed in the context of 2030s, highlighting the mix of technical skills such as data analytics and data architecture with soft skills such as influencing and storytelling.

Uncertainty can take many forms. It can manifest in a natural disaster, the merger or acquisition of a competitor, geopolitical changes, or a global pandemic. 

In a world in which increasingly little can ever be taken for granted, the core capabilities needed for thriving FP&A teams are continuously developing.

In the video, Abbie Obomighie, Group FP&A Director at Spectris, shares her experience on the skills that help FP&A Teams succeed in uncertain times.