Many will still argue that target setting works. “What gets measured gets done”. Yes, targets do work. That is actually the problem. Managers hitting their target is, however, no guarantee whatsoever that this was their best possible performance, given the circumstances.

The future of IBP will be to plan across the whole value chain. A final step in IBP scope will be to understand and incorporate constraints to create a global view.

The cost of complexity can be significant – upwards of 5% of sales in global organizations. Forward-thinking FP&A leaders can play a significant role in realizing this value by leveraging technology innovations that support fully integrated P&PM processes.

The 20th London FP&A Board will take place on 26th June 2018 to debate on a popular subject of FP&A Team Building.

The International FP&A Board will open its 20th global chapter in Tokyo on 12 July 2018. The first professional debate will be devoted to the global trends in modern Financial Planning and Analytics (FP&A). 

The Tokyo FP&A Board was launched on the 12^th of July, 2018.

Senior FP&A leaders from Takeda Pharmaceutical, Honeywell, Microsoft, Shiseido, Johnson & Johnson, Bayer Pharmaceuticals, Novo Nordisk Pharma Ltd, and other companies attended the events to guide the development and promotion of better practices in global FP&A, identify, and support new trends, skillsets and innovations.

The speakers from AXA Technology Services Division Japan, Microsoft Japan, DB Schenker and others presented their insights and case studies.

Any business decision-making process requires both analytics and judgment. 

For organizations with annual expense budgets, it is important to have procedures for monitoring expenditures and budget items throughout the year. This article visually describes how to use statistical forecasting models,  uncertainty ranges and space forecasting models for this purpose.

If done correctly, Strategic Finance can represent an immense value-add to your organization while at the same time, reduce the costly time and effort of the Budgeting process.   Make a conscious effort to consider these seven essential tips and will see the benefits. 

A budget is often a strategic anchor rather than a tool that facilitates effective decision making. Success in today’s world means innovative management models that release people from staffing bureaucracy and suffocating controls, and trusting them with information and empowering them to think, reflect, share, learn, and improve