FP&A Trends Digest: Issue #115
| | Dear colleagues, "It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change." — a renowned British naturalist and biologist Charles Darwin. In echoing Darwin's timeless wisdom, we recognise that our survival and success depend on our agility — our ability to pivot and adjust strategies swiftly in response to dynamic market conditions. Embracing an agile approach in Financial Planning and Analysis allows us to stay resilient and thrive amidst uncertainty. However, adopting this approach demands a multifaceted strategy, requiring not only a well-rounded FP&A team but also integrated planning processes, as well as leveraging advanced technology and analytics. In this issue, we share articles from senior experienced practitioners from leading organisations and a hub with essential resources, exploring each of these key components and their role in achieving Agile FP&A. We hope these insights inspire you to embrace agility in your own FP&A journey. Kind regards, Larysa Melnychuk, CEO and Founder
FP&A Trends Group & International FP&A Board |
| | | Next-gen finance Is in | A slow financial close can impact your accuracy, auditability, and agility. But finance teams embracing the next generation of finance enjoy a fast, trackable, and streamlined financial close. To help you transition into this new era, we’ve created a hub with essential resources on next-gen finance and financial close. Get insights on: • The future of financial performance management
• First steps towards investing in next-gen solutions
• What a next-gen finance organisation looks like
• Key processes like account reconciliation and close
Visit hub page. | | | | Thriving in Uncertainty: A New Era for FP&A | By Diana Groschupp In a world where rapid and continual shifts dominate our daily lives, FP&A professionals must adapt swiftly to stay ahead. The evolving landscape, influenced by global events such as pandemics, supply chain constraints, and economic fluctuations, demands a new level of agility and preparedness from FP&A teams. Understanding the past and future of the FP&A function is essential to thrive amidst this uncertainty. Read the article by Diana Groschupp, VP of FP&A Europe at TD SYNNEX, to learn how collaboration and nurturing skilled FP&A talent build resilient teams. Groschupp highlights the importance of simplifying processes and maintaining robust technology for a stronger, more efficient FP&A function. | | | | Integrated FP&A in the Scale-Up World | By Prodromos Siapkas The isolated, numbers-centric approach of traditional FP&A teams is no longer sufficient to meet the demands of today's complex and ambiguous business landscape. In this context, Integrated FP&A emerges as a necessary evolution, enabling FP&A teams to integrate with the entire organisation, understand its intricacies, and facilitate value-adding decision-making processes. Read this article by Prodromos Siapkas, Director of Finance at sennder Technologies GmbH, to learn why agility is paramount for scale-ups and how Integrated FP&A can be the game-changer your organisation needs. Explore practical steps to implement this approach, from building streamlined processes to harnessing cutting-edge technology. | | | | A Sure Shot Strategy to Fail at Finance Transformation | By Suneet Pal Singh Ever wondered why some finance transformation initiatives stumble while others soar? What are the common pitfalls that lead to an alarming 70-80% failure rate in such endeavours? Read this article by Suneet Pal Singh, Director of FP&A at SE Health, to delve into the intricacies of digital transformation in finance. Explore why such initiatives have faltered in other companies and uncover what essential lessons we can learn from those experiences. The author outlines four common mistakes when handling digital transformation and provides some practical tips to avoid making them. | | | Need for Higher Agility and Flexibility
and Need for Systems and Processes Integration | By Fernando Schreiner Learn about the strategy Gensler developed at the beginning of the pandemic, which involved Scenario Planning, transparent and effective communication and fast data-driven decision-making. He also shares his experience with digital transformation in employee experience management, skills management, workforce optimisation and other processes. In this video Fernando Schreiner, FP&A Director at Gensler, shared his lessons learned during the early stages of the COVID-19 outbreak. He highlights the need for higher agility and flexibility and for systems and processes integration. |
| | FP&A Trends Digital Events |
FP&A Trends digital events are vendor-agnostic and complimentary. If you are not able to join the live session, you can register to receive the recording later. | | | Mastering Analytical Transformation with FP&A Trends Maturity Model | Crafted over eight years by thousands of global senior practitioners and supported by thorough research, the FP&A Trends Maturity Model stands as a definitive benchmark for evaluating and enhancing FP&A practices. This model offers a custom roadmap for analytical transformation, incorporating a balanced approach essential for success. Register for this webinar for expert insights and actionable recommendations on navigating Intelligent Transformation with the FP&A Trends Maturity Model. | | | The Success Formula of Digitised FP&A Business Partnering | Nowadays, digitised FP&A Business Partnering is the latest trend that is going well beyond just Finance, involving the entire organisation to move FP&A to the next level. Register for this webinar to delve deep into the art of digitised FP&A Business Partnering and unlock its potential to drive impactful change with a panel of senior practitioners and thought leaders. |
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