In an uncertain world, plans with a single focus are no longer sufficient. Management needs to constantly scan the business environment, assess what lies beyond the ‘span of predictability’, and be prepared for a multitude of realities.
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In my day-to-day job, I interact with many Financial Planning and Analysis (FP&A) organisations implementing predictive planning to improve their budgeting and forecasting processes.
Only 30% of change programs are successful. How to drive Analytical Transformation? Join the Digital North American FP&A Board on the 28th of April to find the answer to this question.
At the end of the day, FP&A isn’t a technical department. Its role is to develop the operating and financial plan and help the organisation to achieve set goals. It is therefore very important to receive technical support and advice from qualified professionals. This support will be much more helpful if it considers finance and planning specifics. In other words, the technology specialist should be a part of Finance or, even better, the Planning department itself. This role can be called a “Finance Technology Officer” or FTO.
FP&A has a vital role to play in closing the Strategy-Execution Gap, but this is not going to be easy. Widespread transformation is needed; data and drivers must be harnessed effectively. In this issue, we have collected content that will help you do just that.
There are arguably two main reasons for the Strategy-Execution Gap. The first is obvious: too much focus on short-term profits. The second is less immediately noticeable, but perhaps more deep-rooted: improper allocation of resources.
The core focus of this Committee is on the practical application of AI/ML e.g. leadership, people, roadblocks, and change management focusing ultimately on benefits realization.
Data storytelling tools like dashboards have been around for a long time, but they have recently experienced a huge surge in popularity.
Fortunately, an increasing number of organisations have come to embrace what IFP&A can offer. These people ‘step outside the box' and create solutions that are both innovative and that help management to improve organisational performance.