Dear colleagues,

"The advance of technology is based on making it fit in so that you don't really even notice it, so it's part of everyday life." - Bill Gates.

Today, technology and transformation go hand in hand, especially in reshaping Financial Planning and Analysis (FP&A). But just having fancy tech isn't the whole solution. Making new systems work requires being flexible and asking the right questions. It's about matching what your organisation needs and the challenges it faces with the tools that actually make a difference.

Our current digest offers practical resources – articles by experienced finance professionals, a case study video, and the report "2023 Strategic Roadmap for FP&A Technology". May these insights guide you from setting the groundwork to reaping the benefits, ensuring your financial processes are not just tech-savvy but also secure and compliant.

We hope this issue will help you to embrace new technologies effectively and drive better results for your organisation in the dynamic world of FP&A.

Kind regards,

Larysa Melnychuk, CEO and Founder
FP&A Trends Group & International FP&A Board

FP&A leaders remain challenged to decrease reliance on spreadsheets in planning and decision-making. Explore underutilised components of FP&A technology, and how creating an FP&A technology roadmap sets organisations up to exploit modern capabilities.

Read this report to uncover key findings on how to improve planning and decision-making processes, how to make timely decisions that will optimise business performance, and how to be more confident in your technology.

By Ehab Sobhy

Digital transformation has revolutionised FP&A processes, granting professionals swift access to critical financial data through cloud-based technology and real-time analytics. This advancement not only enhances decision-making speed but also allows the automation of manual tasks, freeing up time for FP&A experts to focus on strategic planning and analysis.

In this article, Ehab Sobhy, Group Finance Manager, Business Performance at Al-Futtaim Real Estate Group, discovers how digital transformation profoundly impacts FP&A.

By Alexey Jodzishsky

As technology advances, finance professionals must enhance their skills to navigate complex data efficiently. While the role of Finance Technology Officers (FTOs) can optimise workflows and improve efficiency, it's crucial to recognise that FP&A isn't inherently technical, necessitating collaboration with qualified technology professionals for effective support.

Read this article by Alexey Jodzishsky, Solutions Architect at ALGOne Solution, to explore how integrating FTOs within Finance or Planning departments can bridge the gap between technological advancements and the core objectives of FP&A.

By Michael Lashinsky and Randeep Rathindran

Challenges like war, sanctions, and the pandemic expose flaws in traditional budgeting. Gartner finds low planning agility leads to missing 45% of financial opportunities and addressing only 64% of risks. To navigate volatility, organisations must adopt digitally enabled planning methods, reducing reliance on hindering spreadsheets.

In this article, Michael Lashinsky, Director of Research at Gartner, and Randeep Rathindran, Distinguished VP at Gartner, discuss the importance of digitally enabled planning methodologies, with a specific focus on a human-machine learning loop.

By Michael Nudelmann

Choosing the right technology for FP&A is crucial for success. However, it can be challenging. Many organisations still use outdated tools that do not match modern planning complexities.

So, what criteria can help us choose the proper technology?

In this video, Michael Nudelmann, Director Controlling / Head of Corporate FP&A at SWAROVSKI, answers this question and shares a case study from his company.

FP&A Trends Group is launching the 8th Survey to analyse up-to-date issues affecting the performance of FP&A departments and deep dives into the evolving role of Financial Planning & Analysis.

Your contribution will help us understand the most crucial challenges within modern FP&A and define what needs to be overcome. In return, we will share the final report with you in July 2024. Therefore, I cordially invite you to spend 10-12 minutes completing the FP&A Trends Survey 2024. Sharing this questionnaire with your network is highly appreciated.

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