In a recent ACCA survey about the future of the accountancy professional, digital is listed as one of the 7 quotients for success. ACCA defines digital as “the awareness and application of existing and emerging digital technologies, capabilities, practices, strategies and culture”. One of the more talked about area in technology is artificial intelligence. This article attempts to explore whether artificial intelligence can replace people in the FP&A arena.

Strong programming skills (R, SQL, Python, VBA) are coming up frequently as requirements to be successful in FP&A. Those who have not caught up with this yet need to do so. 

What about strong people skills?

The opposition showed their teeth over the past fortnight, by allying to take control of the Parliamentary agenda and pass a law extending Brexit by three months.  Remainers have triumphed, pushing the exit date out to 31st January 2020.  The Conservative party has lost its majority and cannot even call a General Election, to attempt to resolve the issue.  Notwithstanding this, Prime Minister Boris Johnson appears to be determined to leave by 31st October 2019.

The second Shanghai FP&A Board will take place on 25 of November 2019 to debate the popular subject of the FP&A Analytical Transformation.

What are behavioral forensics? Why would accountants and financial analysts and planners even need to consider behavior. Behavioral economics and behavioral finance tackle the issue of how people make economic and financial decisions if they are not completely rational. 

There are different financial indicators to monitor the financial results of a company. Focussing on ‘value creation’ is sometimes considered ‘rocket science’ for the local management team. However, by explaining the steps of calculating ‘value’, management will quickly see what is meant by it and how they create it. 

My aim in this article is to proffer suggestions for assembling members of an FP&A team. This is the team that will ensure an enterprise is resilient enough to navigate competitive threats, technology disruptions, regulatory effects, and can adapt to broad market dynamics in this 4th wave of the industrial revolution. 

How can FP&A remain relevant in today's business environment? How do we bridge the missing link between finance and their business partners? How did Konika Minolta implement an algorithmic model for dynamic sales planning? Read the new issue of the FP&A Trends Digest to discover the answers to all of these questions and more.

What is the first thought you have, when you see the above topic which I am going to discuss with you? Sounds confusing? How is it possible to have cost control yet have business initiatives and without the operations getting hurt? You are not alone if you believe so. 
 

The 24th meeting of the FP&A board discussed driver-based planning and predictive analytics in modern FP&A. The meeting was held on the 12th of September 2019, at IWG’s offices near Trafalgar Square. It was sponsored by Anaplan, IWG and Michael Page.