FP&A Trends Digest: Issue #47
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Issue #47 - 25 September 2021
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Dear colleagues,
It is a high season for the 2022 budgeting and planning process, where FP&A Business Partnering is being tested to the full.
The 2021 FP&A Trends Survey has revealed that only 12.5% of organisations spend more than 40% of their time on high-value activities such as partnering with other businesses and generating insights.
I am continuing to receive many questions about how we can propel FP&A Business Partnering to the next level. In our FP&A Board meetings, we have discussed this popular subject in 16 countries, eliciting an abundance of fruitful insights.
It’s clear that FP&A Business Partnering is not just a subset of general Finance Business Partnering. In fact, it has a dual function: not only to support and educate but also to shake up the status quo.
Yes, we think FP&A Business Partnering can be a valuable Change Agent. That’s why we’ve decided to devote this issue to FP&A Business Partnering. In this newsletter, you’ll find a variety of articles covering the concept and how to implement it in your finance function.
We are constantly working on improving the FP&A Trends Digest. If you have any comments or suggestions, do not hesitate to write me a message.
Take care and enjoy the issue!
Kind regards,
Larysa Melnychuk
CEO and Founder
FP&A Trends Group &
International FP&A Board
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By Andrew Jepson
How can an accountant move from being a compliant ‘bean counter’ to a value-adding and influential finance business partner? This article suggests getting involved in greater depth in the business, utilising technology, and talking to other people as three key ways to make a strong start.
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By Turgut Kapisiz
As an FP&A professional, one of the critical points is to build trust and respect with the business. Trust comes in many forms and is built over time. Respect depends on providing quality and timely outputs that the business can rely on as a trusted partner. So how can we get there? This article provides a snapshot of the author's journey and the steps involved.
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By Wai Yee Tsang
Every FP&A professional has an active role to play in business partnering, in supporting the leadership team to aid decision making. This requires an understanding of the company's strategy, where the company is heading, and how to get there. In this article, an experienced FP&A practitioner shares four steps on how to become a trusted strategic FP&A Business Partner.
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In this 9-minute video, Adam Salem, Head of Planning Budgeting Forecasting & Reporting at Philip Morris International, presents a case study demonstrating the skills that an FP&A business partner can benefit from. He covers core challenges faced at Philip Morris, highlights transformational pillars which can facilitate partnering, and outlines new roles and responsibilities inherent in this process. Adam’s case study proves that xP&A Business Partnering is the latest trend that goes well beyond just Finance to involve entire organisations.
For more Insights from FP&A Trends, please click here.
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FP&A Trends Digital Events
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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.
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Dynamic and data-driven scenario planning is of utmost importance in this ever-changing environment. That requires building an agile finance process. How do we move from traditional methods to the data-driven and agile FP&A? Register for this webinar to find answers, and hear all about a leading case study of Applied Materials.
Data is the new currency for companies of all sizes and industries. An essential function of effective FP&A is to create a data-driven decision-making culture throughout the enterprise. Join this webinar to hear actionable insights on fostering a data-driven FP&A culture from senior finance professionals from eBay, Medtronic and Prophix Software.
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