FP&A Trends Digest: Issue #70
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Issue #70 - 20 August 2022
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Dear colleagues,
“There is no alternative to digital transformation. Visionary companies will carve out new strategic options for themselves — those that don’t adapt, will fail.” — Jeff Bezos, Amazon.
In the modern business environment, best-in-class FP&A is all about agility and adaptability. Moving towards this objective can be achieved by the use of an FP&A Maturity Model as a transformation toolkit.
As you may know, one of the International FP&A Board’s long-running projects has been the development of the FP&A Maturity Model – something we have been working on since 2016.
Today, it is one of the best tools to outline the roadmap for getting to the best-in-class FP&A practice. And it is absolutely free!
In our latest global research paper, we focused on delving deeper into the most mature level - Leading State, by exploring three dimensions of the model: Process, Data & Analytics, and Technology. This digest aims to explore these categories through:
- our research paper itself;
- an article about the essence of driver-based modelling and data lineage concepts;
- a video case study of predictive analytics for planning; and
- an argument for using technology to effect FP&A transformation.
If you would like to hear more about the Maturity Model from those of us who developed it – and I hope, after reading this digest, that you will – then please do register for our September webinar, where we will be exploring the model further.
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How to create an Intelligent Planning process fit for a changing world. Download this research paper to understand how your FP&A team can best serve your organisation.
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By Irina Steenbeek
The strategic goal of each business is survival in the long term. And in order to ‘survive’, a business needs to ensure a steady profit and proper asset management, data being one of these assets. In this article, the author investigates one possible area where cooperation between FP&A and Data management professionals can deliver mutually beneficial results.
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By John Sanchez
Driver-based planning (DBP) is an essential part of the FP&A armoury. But when creating a driver-based model, it is important to produce one that is not overly detailed or complex but one that is accurate and actionable. In this article, the author shares his ideas on the benefits of DBP and outlines four main steps to building a good driver-based model.
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By Patric Somlo
With the business world we now live in necessitating a radical change from traditional planning, there has never been a better time to start exploring predictive analytics. In this short video, the Head of FP&A and M&A at Lonza shares how his organisation transformed its planning process by using Predictive Analytics transformed their planning process.
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By Michael Coveney
Change has been a constant since the dawn of time. But the world now seems to be changing more quickly than ever, especially in the field of technology. Luckily, technology not only drives change, but also equips us to manage it. As FP&A practitioners, we have never before had such sophisticated tools for improving our work. So how can we leverage technology to reinvent FP&A? Our Head of Research explores the answers.
For more resources on FP&A Maturity Models, 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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Coping with uncertainty requires new ways and tools where speed and agility are at the forefront. FP&A Intelligent Transformation is key to that change. So, how do you create an intelligent planning process that can quickly adapt to multiple possible futures while still achieving organisational objectives? Join us for this webinar to discover the answer with 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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