FP&A Trends Digest: Issue #69
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Issue #69 - 6 August 2022
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Dear colleagues,
Greetings from beautiful France! I enjoy my family vacation here, as well as have time to reflect on the latest FP&A trends and development that we discovered at our recent International FP&A Board meetings, survey, and research.
FP&A is a diverse global field with many different approaches, but there is one thing all of us can agree on: things are changing, and rapidly.
Far from slowing down, the pace of change seems to be accelerating, and this brings both challenges and opportunities. While at the helm of GE, Jack Welch was quoted as saying: “If the rate of change on the outside exceeds the rate of change on the inside, then the end is near.”
As Welch rightly argues, we need to keep up with our evolving environment – and this means making sure that our FP&A team has the capabilities needed to thrive in the future. That is why we have decided to make FP&A Skills the theme of this digest.
In this issue, you will find: our research on emerging FP&A skills; a crash course in one of the most important capabilities, data storytelling; an article on the new role of the FP&A Architect; a compelling analogy between gardening and FP&A; and a video on the changing FP&A skillset.
We would also like to share with you the results of our 2022 FP&A Trends Survey, which delved deeper into the role of technology in supporting new FP&A skills and roles.
I hope that this article helps you to get your organisation’s rate of change up to speed!
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We recently conducted our 2022 FP&A Trends Survey, gathering insights from professionals in the field from all over the world. Now that the results are in, we are pleased to be able to share them with our digest readers. Click through to discover what global FP&A people think about the changing role of FP&A, and technology’s role in its evolution.
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It has recently become very clear that the FP&A of the future will not look like the FP&A of the past. New skills and capabilities will be required, and so it is essential that we build teams that have them. Recognising this need, we conducted research into the topic. This paper discusses our findings in detail.
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By Olga Rudakova
Of all the emerging skills in FP&A, there are few that are more important than data storytelling. At the intersection of analytics, psychology and design, Data Storytelling helps us to convey what the numbers really mean to our key stakeholders. It is undeniably a complex task, but thankfully, we have a crash course to get you started.
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By Michael Coveney
With new FP&A skills come new job roles, and that of the FP&A Architect is central to the future of the field. With the cutting-edge analytic platforms now available to us, organisations need to know how to take advantage of these new tools, and the FP&A Architect helps them to do just that. But how do we identify someone suitable for the rule, and what do they have to offer? Our Head of Research at FP&A Trends Group shares his views.
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By Andrew Codd
What do our gardens have to do with FP&A? You might not think that the two have very much in common – but with his illustrative analogy, the author might just convince you otherwise. Read his article to find out just what mowing the lawn has to do with emerging FP&A skills.
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By Marc De Haas
One of the largest privately owned companies in the world, Cargill’s FP&A journey started around 6 years ago. But, as the company’s Global Finance Director – Cocoa and Chocolate emphasises in a short video, this journey never really ends. One of the key stages began in 2017, when the organisation undertook an Integrated Business Planning project. So, what results did this project yield, and what skills were required?
For more resources on FP&A Skills, 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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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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