The fourth FP&A Board Connect was dedicated to the subject "How to Use Predictive Analytics and Machine Learning for Better Quality Forecast (Janssen Case Study)".
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A forecast that simply assigns future values based on prior experiences is not a model. In this article, I elaborate on the meaning of specifying the cause of change by showing why 3-statement forecasting is not enough for FP&A.
If FP&A professionals previously thought we had a tough job, the new reality of a very different world after COVID-19 will make our previous issues seem like a walk in the park. Where should we focus our efforts, and how can we provide the businesses with the best ways to move forward?
Activity-based costing data can be used to build a test case operational budget (OB) model. In this article, Alan explains the test model and provides data that was used in the process.
The COVID crisis is significantly challenging companies’ resilience i.e. their ability to face the crisis. It largely depends on their level of preparation. FP&A should keep a permanent assessment of this resilience and potentially promote plans to improve it. How can we do this?
How are you handling this mayhem? To better understand how to manage it, in this practical guide, we will look into four major dimensions.
Victor Barnes, Global CFO, The McDonald’s Division at The Coca-Cola Company, shared their recent global digital transformation initiative toward one source of truth to improve their processes.
In this digest, we will also look at financial modelling in more details. We will cover several questions. What is the difference between sensitivity, scenario and what-if analysis? How can you use a cost volume profit analysis? We will also discuss strategic cost control and the common pitfalls found during robotic process automation within FP&A.
I have previously written about 8 qualities which I believe characterize good FP&A performers. The article will explore what 2 of these – Curiosity and Creativity - can mean for Business Finance and FP&A in particular.
At the third FP&A Board Connect, Lukas Herbert shared a business case study on Zero-Based Budgeting (ZBB).