The current COVID-19 disruption has led to a historical change requiring adaptability and increased visibility for CFO and the executive team. At the First Pan-Australian Digital FP&A Board, the panel of 7 high-profile speakers discussed how financial planning and analysis (FP&A) can adapt to the "New Normal".
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The first Pan-Australian FP&A Board was held digitally as a response to the pandemic outbreak. This digital meeting was devoted to 6 facets of the New Normal FP&A including Scenario Planning, Cash Flow Planning, FP&A Team Building, Technology, Driver Based & Predictive Planning and FP&A Skills and Roles.
The current world is full of dead budgets and unrealistic forecasts, and FP&A teams need to adapt quickly to prepare for the future. At the first Digital Pan-Asian FP&A Board, senior finance practitioners from large organisations shared their insights on a variety of topics.
While rolling forecasts have clear benefits, their successful implementation needs to consider several risk areas. The purpose of this article is to explore what consequences and costs a move to rolling forecasting has for the other actors involved in the process.
In this article, I would like to summarise this insightful meeting filled with practical presentations, interactive polling questions and compelling discussions around the six facets of the “New Normal” FP&A.
We are excited to share with you the results of the third annual FP&A Trends Survey! The research is based on insights from 338 finance professionals across a diverse set of industries around the globe. We focused our attention on the changing role of FP&A into a strategic partner and how technology can support this evolution.
By deploying integrated FP&A organisations see greater performance improvements compared with traditional FP&A processes. This is enabled by combining strategic planning, business planning and forecasting and operations planning and forecasting.
FP&A is going to thrive and evolve if it continues to enhance the decision-making process in an uncertain business environment. This is why we need to see a huge shift in the FP&A skill set.
What is systems thinking and how can it be applied in a real-life finance business partnering scenario? A modern finance business partner requires a shift in mindset away from linear to more of interconnectedness.