A definition of quality is “a distinctive characteristic possessed by someone.”  The work of FP&A practitioners focuses on thinking and learning about how financial activities – earning revenues, incurring costs, generating cash flows – affect organizations.  The thinking and learning about this relationship require a mindset that creates results.  

The application of design thinking involves the creation of solutions in the meeting of an objective. Unlike a purely analytical approach, it begins with the solution and utilizes resources from across the enterprise to bring about its creation. The purely analytical approach breaks down the problem into its subsequent parts in order to rebuild it anew.

As promised in the previous article, let us go deeper into the relationship between FP&A and Data management (DM) and see how Data management enriches your FP&A role and successes. 

No matter for a budget season or continuous forecasting: the human factor is randomly covered in the process that may bring the best and the worst of management culture. A special eye on bias during the Performance Management and goal setting process is essential for process quality and to the FP&A skillset.

2017 budgets might be locked and loaded at your company, but that does not mean that they need to be anchors on your company’s ability to anticipate, respond and react effectively to dynamic market conditions in 2017.

There are many definitions of culture.  From a business perspective I like the definition of culture as “the beliefs and behavior that determine how people interact and handle transactions.”  I like this definition because it includes the word “transactions.”  Transactions are unavoidable within businesses.

As far as I know, we are not legally required to forecast. So why do we do it? My sense is that forecasting practitioners rarely stop to ask themselves this question. This might be because they are so focussed on techniques and processes.

How to establish sustainable success in Strategic Finance, one step at a time. When executed correctly, Strategic Finance is the linchpin between Strategic Planning and Budgeting. It helps organizations turn strategic thinking into reality by cascading thoughts and goals into measurable financial outcomes.  

An important characteristic of FP&A practitioners is a commitment to continuous improvement.  There are a number of ways for FP&A practitioners to commit toward improving their work.  For me, one of the ways I commit to continuous improvement is reading books.