FP&A Trends Digest: Issue #68
Dear colleagues,
As many of you may already know, 2022 has been an exciting year for us at FP&A Trends Group so far: we have restarted our face-to-face International FP&A Board meetings, continuing our mission of learning the latest trends in Financial Planning & Analysis through discussion and collaboration.
Altogether we had 12 face-to-face meetings: in four cities in Europe and eight cities in North America, where we deep-dived into case studies and practical experience on the key FP&A lessons learned from the pandemic.
These lessons can be grouped as follows:
• Scenario Management mindset – a must in this environment;
• Extended Planning and Analysis (xP&A) – how we implement this mindset;
• Critical FP&A Team Roles are changing;
• Predictive Analytics/AI/ML – vital for FP&A transformation.
That is why in this digest, we decided to collect content that best addresses these four themes. Below, you will find an eBook discussing xP&A; an article on upgrading your FP&A team; a case study of Predictive Analytics for planning; and a video delving further into Scenario Management.
As Garrison Wynn has said, “Action and adaptability create opportunity.” The pandemic has been a dramatic blow for us all, but it has also been a chance to grow and learn — as I hope that this digest demonstrates.
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In this environment, improving the agility of planning processes is — and should be — a top priority for many organisations. One of the best tools for achieving agility is xP&A, an approach that looks beyond just finance data. In this eBook, you will learn all about the solutions xP&A offers to the problems posed by traditional planning methods.
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By James Halley
If we can all agree that COVID-19 has been a cloud hanging over the last two years, one of the silver linings for FP&A is that the pandemic has forced teams to adapt and evolve — and even become more effective. Organisations all over the world have upgraded their FP&A teams, and this article from the VP Finance & European CFO at Nidec reveals how you can do the same.
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By Stefan Spiegel
By now, we are all aware of the drawbacks of antiquated approaches to budgeting and planning. Thankfully, developments in the field of AI/ML (Artificial Intelligence and Machine Learning) are opening up completely new possibilities. So how can we use Predictive Analytics to transform planning processes? And how does this work in practice? Read this case study from the CFO at SBB Cargo AG to find out.
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By Alex Beired
Scenario management offers solutions to many of the disadvantages of traditional planning practices. It allows organisations to assess what lies beyond the ‘span of predictability’ and account for multiple possible futures. But how do we make sure scenario management doesn't become just another time-consuming FP&A activity? In this video, the Director Corporate FP&A at Owens Corning shares his answers.
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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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Today, the FP&A Maturity Model allows organisations of any size, industry, and geography to assess where they are in terms of planning and analysis. It is the best tool for you to understand where you are on the journey and outline the roadmap for getting to the best-in-class FP&A. Join us for this webinar to learn more about how to achieve FP&A Intelligent Transformation from senior practitioners from SWAROVSKI, Moderna and Board International.
With the business environment in constant flux, traditional planning approaches that bank on a single possible future are no longer viable. Instead, organisations must turn to scenario management to prepare for the prospect of multiple future outcomes. To learn how to implement scenario management successfully, register for this webinar.
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