The main criticism of the traditional budget is that it does not react to what is actually happening in the business during the year. But a Rolling Forecast solves that problem, helping companies to continuously plan (forecast) over a set time horizon.

What is the winning formula of Integrated FP&A? Join the Digital Middle Eastern FP&A Board on the 15th of February at 5:00 PM GST to find the answer to this question.

In this digest, you will find a guide to effective FP&A Storytelling, an article on dashboards, and an exploration of the psychology behind data visualisation.

Cultural change on FP&A is inevitable. As the world evolves, our cultural norms on business evolve too. The best way is to catch up with the speed of this daily evolving change is through scientific thinking. Now for our profession, data is the lowest meaningful element, such as an atom in a living organism. The advantage will favour the teams who will understand that indisputable fact and, we will witness the process closely in the future.
 

It is only by telling the story behind the numbers that we can see the full picture and use the numbers to make value-adding decisions.

Being adaptive to changes in the surrounding world and changing yourself is the only way to progress today. Continuous transformation of planning and analysis approaches becomes a lifestyle. Digital Transformation forms a fundamental part of it. At the same time, changes bring risks and the only way to manage them is to be prepared.

The FP&A trends webinar will take place on January 25th to explore Skills of the Future - Best-in-Class FP&A Teams and How to Build Them.

Utilising modern technology like Artificial Intelligence and Machine Learning solutions in their Rolling Forecasts has enabled large, multinational companies to achieve real-time, continuous forecasts with 90% accuracy and in some cases, even higher. 

Michael gives an insightful presentation on FP&A Scenario Planning: Forecasting in the Uncertainty.

It is commonly agreed that the traditional budgeting process is time-consuming and costly. It rarely focuses on strategy and adds little value. Although traditional budgets have evolved over the years, they hardly meet the challenges of the modern economic and business environment.