FP&A Trends Digest: Issue #55
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Issue #55 - 22 January 2022
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Dear colleagues,
“The problem with the future is that it is different. If you are unable to think differently, the future will always arrive as a surprise.” (Gary Hamel, professor and business thinker).
In the FP&A world, we have been adjusting to this volatile environment, trying to find effective ways to plan and forecast under uncertainty. But did you know that just 7% of organisations are happy with their planning solutions? And that 40% report the data they use as low or poor quality? And 8% of companies still adopt ‘last year + x%’ when setting budgets?
These are just some of the findings of our 2021 FP&A Empowerment Survey. We conduct this research every year to identify the latest trends in modern financial planning & analysis. I would like to invite you to participate in this global initiative and define the future of FP&A. More details you will find below.
Staying abreast of all the developments in FP&A can be challenging. So, in this issue we have collected content spanning a range of hot topics in the field, amounting to a panorama of modern FP&A. There are articles on Diversity and Inclusion, the path to an FP&A career, and optimising digitalisation. There is also a short video exploring the relationship between FP&A and new technology.
At the bottom of the digest, you will find the usual invitations to our upcoming digital events.
I hope you enjoy the issue, and please do take the time to fill in the survey. The results will no doubt feature in a future digest!
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We are launching the 6th annual FP&A Empowerment Survey to analyse the evolving role of FP&A in this uncertain business environment. I would like to invite you to complete the 2022 survey and share the link with your colleagues. It will take approximately 10 minutes, and in return, we will share the final report with you. Your responses will help us analyse the evolving role of FP&A and produce statistics that will inform the whole FP&A community.
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By Paul Brand
Both diversity and inclusion are essential considerations in the modern finance world, with organisations that drive this agenda having clear advantages over those that do not. But what exactly are diversity and inclusion, and how can we harness their power in FP&A teams? Find out in this article from the Head of FP&A at ADP UK.
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By Simone da Silva Collins
FP&A professionals come from many different walks of life, but a solid accounting background is often a key steppingstone to a career in the field. This was the case for the Senior Financial Analyst at Sony, who shares how she progressed from a bachelor’s degree in accounting and Business to a top FP&A role. She also provides recommendations on how to begin this journey yourself.
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By Olga Rudakova
FP&A digitalisation is high on many organisations’ agenda, but succeeding is no mean feat. One of the biggest challenges is the three-to-five-year gap between the technology adoption level and the mindset of the employees. So how can we avoid this latency? How do we get our teams on board with digitalisation? In this article, a finance professional explores the answers.
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By Tanja Schlesinger
In today’s volatile environment, standalone digital improvements are rarely enough. Increasingly, there is an accelerated need to truly combine human and technological capabilities. So how can we achieve this, and what obstacles might we meet along the way? Find out more in this video from the VP BI at Deutsche Bahn Regio.
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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As we slowly return to normality after the global disruptions of the COVID-19 pandemic, it is time to ask some critical questions. What have we learned about FP&A in this challenging period? And what does the future hold? Join us for this webinar to learn more.
A powerful visualisation tool, the FP&A dashboard helps us tell the story behind the data. But research shows that 80% of dashboards are seldom or never used. That is why we have decided to host a webinar exploring dashboarding further. Is it a necessary skill? And how do we create dashboards that drive decisions and ignite actions? Register for this webinar as our experienced panel share their wisdom.
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