FP&A Trends Digest: Issue #73
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Issue #73 - 8 October 2022
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Dear colleagues,
Bill Gates believes that success today requires the agility and drive to constantly rethink, reinvigorate, react, and reinvent.
In our fast-changing reality, readiness for the unforeseen is perceived as a must. And in order to be agile, FP&A needs to undergo a transformation, moving closer to the leading stage of maturity.
However, you will likely ask about the best ways to achieve planning agility and about the tools it requires. The Maturity Model, developed by the International FP&A Board, can be viewed as an instrument for transparent, logical, and fast changes for your organisation.
This digest provides an in-depth analysis of the need to advance FP&A in your team and use FP&A Transformation to its full potential.
Here, you can take a close look at our recent research paper dedicated to reaching the leading state of the maturity model. Our digest also contains an article discussing implementing Business Intelligence (BI) in FP&A. You can read about the entire transformation journey in the world's largest biotech company. Finally, we invite you to get acquainted with two case studies: the first is about achieving the best-in-class FP&A at Shell, while the second addresses the specifics of FP&A digital transformation at Ecolab.
If you are interested in getting up-to-date, exclusive information from the world's senior finance practitioners, please find the links below to register for our webinars.
FP&A agility is a crucial factor for success, and we hope this newsletter provides an accurate insight for your organisation. If you wish to explore the topic further, you are welcome to look for more pieces of advice on our website.
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Intelligent planning is often just the right tool for a constantly changing business environment. Based on senior finance practitioners' insights, this research paper outlines the critical steps of transforming the FP&A team to the leading state of maturity. FP&A transformation will not happen overnight, but cutting-edge technology like AI/ML can be used to accelerate the process. Thought leaders from Amazon, Microsoft, and Honda share their opinions about transforming FP&A. Click to download the research paper and learn more.
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By Benjamin Wann
Done right, Business Intelligence (BI) can be a game-changer for how work is done and decisions are made. How can FP&A professionals successfully implement a BI tool? How long will the BI journey take? Check out an article written by the Director of FP&A at Societal™ CDMO to outline the steps required to make BI a critical tool in your organisation.
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By Svenja Amrhein
No organisation that has moved into beyond budgeting has looked back. But how exactly does an organisation complete such a non-traditional yet refined transformation? Take a look at the 3 key steps implemented by leading organisation Roche: Clear communication, Transparency, and Trust. To find out more, check out this article written by the company’s Head Group Strategic Planning.
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By Remko Boer
What do mature Leadership, Collaboration and Data Analytics look like when it comes to FP&A? As companies evolve and promote change, processes must be streamlined and agile. Leaders must have a learner mindset with a strategic long-term focus. And those leaders need to be supported by multidisciplinary solution-focused teams and trusted advisors. Watch this short video, as Shell’s VP of Finance, Remko Boer, shares valuable insights that can help you take FP&A maturity to the next level.
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By Alex van der Kooij
For digital transformation to be successful, there are certain key criteria. Teams need to share and leverage holistic skills and competencies. Technology needs to consider the best impact for its users – no “digital for digital’s sake” – the data informing strategy needs to be relevant and actionable, and a culture of change needs to be cultivated. Watch this case study, as Alex van der Kooij, Finance Director, BI and Digital Transformation at Ecolab – shares the key ingredients required for successful digital transformation.
For more resources on FP&A Transformation, 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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How can we harmonise all essential planning processes by going beyond finance to Extended Planning and Analysis (xP&A)? The answer may be Integrated FP&A. A crucial framework for planning in the world of unknown unknowns, Integrated FP&A helps organisations to close the gap between unaligned vertical and horizontal planning processes. Register for this webinar to learn more about FP&A Integration and what is the winning formula of harmonising top-down and bottom-up planning processes.
Everyone in FP&A agrees that agile planning and forecasting are essential in an environment of great uncertainty. FP&A agility is the ability to reforecast on demand. But how can we implement it? Join us for this webinar, where we will look at agility through the lens of the continuous planning and forecasting process. The panel of senior practitioners and thought leaders will share with us their experiences and practical insights.
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